By William Gullotti
Buffalo, N.Y., July 21 – MC Brazil Downstream Trading Sarl priced $1.8 billion of 7¼% senior secured notes due June 30, 2031 (Ba3//BB-), according to a listing notice Wednesday.
The notes are guaranteed by MC Brazil Downstream Participacoes SA.
J.P. Morgan Securities LLC, UBS Securities LLC, Banco Bradesco BBI SA, HSBC Securities (USA) Inc., Societe Generale, Standard Chartered Bank and Deutsche Bank Securities Inc. are the joint lead managers and joint bookrunners for the Rule 144A and Regulation S notes.
Proceeds, according to a Moody’s Investors Service press release, will be used for general corporate purposes, including to finance its oil refining business, to pay its debt and to fund working capital needs.
MC Brazil Downstream is an oil and gas refining and marketing company based in Sao Paulo. The company is a unit of Mubadala Capital.
| Issuer: | MC Brazil Downstream Trading Sarl
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| Guarantor: | MC Brazil Downstream Participacoes SA
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| Issue: | Senior secured notes
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| Amount: | $1.8 billion
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| Maturity: | June 30, 2031
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| Bookrunners: | J.P. Morgan Securities LLC, UBS Securities LLC, Banco Bradesco BBI SA, HSBC Securities (USA) Inc., Societe Generale, Standard Chartered Bank and Deutsche Bank Securities Inc.
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| Coupon: | 7¼%
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| Issue date: | July 21
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| Listing date: | July 22
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| Ratings: | Moody’s: Ba3
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| Fitch: BB-
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| Distribution: | Rule 144A and Regulation S
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