By Reshmi Basu
New York, Dec. 14 - Empresa Electrica de Guatemala, via a Cayman Islands Trust, priced $100 million 10-year senior unsecured notes (Ba2/BB-) Tuesday at par to yield 8½%, or 437 basis points over Treasuries, according to a market source.
The book was oversubscribed at $235 million.
Citigroup ran the Rule 144A/Regulation S note offering.
The issuer, based in Guatemala City, is a privatized energy company.
| Issuer: | Empresa Electrica de Guatemala
|
| Guarantor: | Comercializadora Electrica de Guatemala
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| Amount: | $100 million
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| Issue: | Senior unsecured
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| Maturity: | Dec. 21, 2014
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| Coupon: | 8½%
|
| Issue price: | Par
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| Yield: | 8½%
|
| Spread: | Treasuries plus 437 basis points
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 21
|
| Bookrunner: | Citigroup
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB-
|
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