By Reshmi Basu and Paul A. Harris
New York, July 22- Globe Telecom Inc. priced a $100 million add-on to its 9¾% notes due 2012 (Ba2/BB) at 109, according to market sources.
On July 21, The Philippines' second-largest cellular phone company received bondholder approval to change its covenant, so that it could issue more of its notes due 2012 and alter its dividend policy.
The addition brings the total size of the deal to $300 million.
UBS Investment Bank ran the books.
Issuer: Globe Telecom Inc.
| Amount: | $100 million add-on
|
| Total amount: | $300 million
|
| Issue: | Senior secured notes
|
| Maturity: | April 15, 2012
|
| Coupon: | 9¾%
|
| Issue price: | 109
|
| Call features: | Callable on April 15, 2007 at 104.875, 103.250, 101.625, par on April 15, 2010 and thereafter
|
| Equity clawback: Until April 15, 2005 for 33% at 109.75
|
| Pricing date: | July 22
|
| Settlement date: | July 29 (with accrued interest)
|
| Bookrunner: | UBS Investment Bank
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB
|
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