By Cristal Cody
Chicago, Jan. 17 – Buffalo Energy Mexico Holdings SA de CV, Buffalo Energy Infrastructure SA de CV and Buffalo Energy SA de CV (collectively, Valia Energia) priced $530 million of 7 7/8% senior secured notes due Feb. 15, 2039 (Baa3/BBB) on Tuesday, according to a market source.
The notes priced at par, with a spread of 243 basis points over Treasuries.
Initial talk was in the low-to-mid 8% area.
BNP Paribas, Citigroup, JPMorgan and Morgan Stanley were the bookrunners.
The deal was expected at $520 million.
Valia Energia is a private energy generation platform based in Mexico that comprises seven power plants.
| Issuers: | Buffalo Energy Mexico Holdings SA de CV, Buffalo Energy Infrastructure SA de CV and Buffalo Energy SA de CV (Valia Energia)
|
| Amount: | $530 million
|
| Issue: | Senior secured notes
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| Maturity: | Feb. 15, 2039
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| Bookrunners: | BNP Paribas, Citigroup, JPMorgan and Morgan Stanley
|
| Coupon: | 7 7/8%
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| Price: | Par
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| Yield: | 7 7/8%
|
| Spread: | Treasuries plus 243 bps
|
| Trade date: | Jan. 16
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| Ratings: | Moody’s: Baa3
|
| S&P: BBB
|
| Price talk: | Low-to-mid 8% area
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