By Christine Van Dusen
Atlanta, March 25 - Colombia-focused Pacific Rubiales Energy Corp. priced $1 billion 10-year notes (Ba2/BB+/BB+) at par to yield 5 1/8%, or Treasuries plus 321.1 basis points, a market source said.
BofA Merrill Lynch, Citigroup, Credit Suisse and Itau BBA were the bookrunners for the Rule 144A and Regulation S deal.
The notes include a change-of-control put at 101%.
The proceeds will be used for debt refinancing and for general corporate purposes.
Pacific Rubiales is Toronto-based oil and gas exploration and production company focused on Colombia.
| Issuer: | Pacific Rubiales Energy Corp.
|
| Amount: | $1 billion
|
| Maturity: | March 28, 2023
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup, Credit Suisse, Itau BBA
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Spread: | Treasuries plus 321.1 bps
|
| Change-of-control put: | At 101%
|
| Trade date: | March 25
|
| Settlement date: | March 28
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB+
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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