By Christine Van Dusen
Atlanta, April 27 – Colombia’s Grupo de Inversiones Suramericana SA priced an upsized $550 million 5½% 10-year notes at 98.866 to yield 5.65%, or Treasuries plus 371.9 basis points, on Tuesday, a market source said.
Final talk for the deal, which was initially sized at $540 million, was set in the 5¾% area. The notes were initially talked at a yield in the 6% area.
BofA Merrill Lynch and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The notes were issued via Gruposura Finance and guaranteed by Grupo de Inversiones Suramericana.
The proceeds will be used to pay existing bank debt and for general corporate purposes.
The issuer is an investment company based in Medellin.
| Issuer: | Gruposura Finance
|
| Guarantor: | Grupo de Inversiones Suramericana SA
|
| Amount: | $550 million
|
| Maturity: | April 29, 2026
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, JPMorgan
|
| Coupon: | 5½%
|
| Price: | 98.866
|
| Yield: | 5.65%
|
| Spread: | Treasuries plus 371.9 bps
|
| Call options: | Par call three months prior to maturity
|
| Trade date: | April 26
|
| Settlement date: | April 29
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¾% 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.
