By Christine Van Dusen
Atlanta, Aug. 6 - Mexico's Alpek SAB de CV sold $300 million 10-year notes (Baa3/BBB-/BBB-) at par to yield 5 3/8%, or Treasuries plus 273.7 basis points, a market source said.
HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes, which may include the repayment or retirement of debt.
Alpek is a petrochemical company based in San Pedro Garza Garcia, Mexico.
Issuer: | Alpek SAB de CV
|
Amount: | $300 million
|
Maturity: | Aug. 8, 2023
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Description: | Senior notes
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Bookrunners: | HSBC, JPMorgan
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Coupon: | 5 3/8%
|
Price: | Par
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Yield: | 5 3/8%
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Spread: | Treasuries plus 273.7 bps
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Change-of-control put: | At 101%
|
Trade date: | Aug. 5
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Settlement date: | Aug. 8
|
Expected ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
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Distribution: | Rule 144A and Regulation S
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