By Christine Van Dusen
Atlanta, May 20 – Peru’s Kallpa Generacion SA sold $350 million 4 7/8% 10-year notes (expected ratings: Baa3//BBB-) at 99.258 to yield 4.97%, or Treasuries plus 312.5 basis points, on Thursday, a market source said.
The notes were talked at a spread in the low-to-mid 300 bps area.
Credit Suisse, Credicorp, Morgan Stanley and Scotiabank were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to repay existing debt and for general corporate purposes.
The issuer is a Lima-based subsidiary of Israeli power generator IC Power Ltd.
| Issuer: | Kallpa Generacion SA
|
| Amount: | $350 million
|
| Maturity: | May 24, 2026
|
| Description: | Notes
|
| Bookrunners: | Credit Suisse, Credicorp, Morgan Stanley, Scotiabank
|
| Coupon: | 4 7/8%
|
| Price: | 99.258
|
| Yield: | 4.97%
|
| Spread: | Treasuries plus 312.5 bps
|
| Change-of-control put: | At 101%
|
| Trade date: | May 19
|
| Settlement date: | May 24
|
| Expected ratings: | Moody's: Baa3
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus low-to-mid-300 bps area
|
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