By Rebecca Melvin
New York, Oct. 4 – Docuformas SAPI de CV priced $150 million of 9¼% five-year notes (expected ratings: /B+/B+) at 99.023 for an initial yield of 9.72%, according to a market source on Wednesday.
The Rule 144A and Regulation S notes were expected to be up to $175 million in size.
UBS was bookrunner of the notes, which mature on Oct. 11, 2022.
Proceeds will be used to refinance about $97 million of existing debt, and remaining proceeds to fund growth.
Based in Mexico, Docuformas provides various financial services.
| Issuer: | Docuformas SAPI de CV
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| Amount: | $150 million
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| Maturity: | Oct. 11, 2022
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| Description: | Senior notes
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| Bookrunner: | UBS
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| Coupon: | 9¼%
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| Price: | 99.023
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| Yield: | 9.72%
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| Trade date: | Oct. 4
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| Settlement date: | Oct. 11
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| Distribution: | Rule 144A and Regulation S
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| Ratings: | S&P: B+
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| Fitch: B+
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