By Christine Van Dusen
Atlanta, Sept. 27 - Panama's ENA Norte Trust priced a $600 million issue of 4.95% notes due April 25, 2023 (Baa3/BBB/BBB) at par to yield 4.95%, a market source said.
The notes priced in line with talk, which was set at the low 5% area.
HSBC and Global Bank were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to purchase the Corredor Norte highway.
ENA Norte Trust is a toll-road operator based in Panama.
| Issuer: | ENA Norte Trust
|
| Amount: | $600 million
|
| Maturity: | April 25, 2023
|
| Description: | Notes
|
| Bookrunners: | HSBC, Global Bank
|
| Coupon: | 4.95%
|
| Price: | Par
|
| Yield: | 4.95%
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 3
|
| Expected ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Low 5% area
|
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