New Issue: Argentina's Pan American Energy sells $500 million 7 7/8% notes due 2021 to yield 8 1/8%

By Christine Van Dusen

Atlanta, April 30 - Pan American Energy LLC, Argentina branch priced $500 million 7 7/8% notes due May 7, 2021 (Ba2//BB-) at 98.204 to yield 8 1/8%, a market source said.

Credit Agricole CIB, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S offering, which was talked at 8 1/8%.

Pan American Energy is a company involved in exploration, development and production of oil and gas in Argentina.

Issuer:	Pan American Energy LLC, Argentina branch
Amount:	$500 million
Maturity:	May 7, 2021
Description:	Notes
Bookrunners:	Credit Agricole CIB, HSBC, JPMorgan
Coupon:	7 7/8%
Price:	98.204
Yield:	8 1/8%
Trade date:	April 30
Settlement date:	May 7
Ratings:	Moody's: Ba2
	Fitch: BB-
Distribution:	Rule 144A/Regulation S
Price talk:	8 1/8%

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