By Paul A. Harris
St. Louis, April 14 - Netherlands-based GMAC International Finance BV priced a €1 billion issue of 7½% five-year fixed-rate notes (B3/B/B) at 99.496 to yield 7 5/8% on Wednesday, according to a market source.
The yield printed on top of the price talk.
Deutsche Bank, BNP Paribas and RBS Securities were the joint bookrunners.
The company, which is located in Rotterdam, provides funding to affiliated General Motors Acceptance Corp. operations that conduct automobile financing operations.
| Issuer: | GMAC International Finance BV
|
| Face amount: | €1 billion
|
| Proceeds: | €994.96 million
|
| Maturity: | April 21, 2015
|
| Securities: | Fixed-rate notes
|
| Bookrunners: | Deutsche Bank, BNP Paribas, RBS Securities
|
| Coupon: | 7½%
|
| Price: | 99.496
|
| Yield: | 7 5/8%
|
| Spread: | 547.8 bps
|
| Call protection: | Non-callable
|
| Trade date: | April 14
|
| Settlement date: | April 21
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B
|
| Fitch: B
|
| Distribution: | Regulation S only
|
| Price talk: | 7 5/8% area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
