By Christine Van Dusen
Atlanta, Dec. 3 - Grupo Petrotemex SA de CV priced a $75 million add on to its 9½% senior notes due Aug. 19, 2014 at 102.5 to yield 8.832% (//BB+), according to an informed market source.
The petrochemical company's original $200 million of notes were priced on Aug. 12 to yield 9¾%.
The bookrunners for the Rule 144A and Regulation S addition were Banc of America Securities and JP Morgan.
The notes include a make-whole call at Treasuries plus 50 bps and a change-of-control put at 101% of principal plus accrued interest.
Proceeds will be used for debt repayment.
Petrotemex is based in Monterrey, Mexico and produces purified terephthalic acid and polyethylene terphthalate.
| Issuer: | Grupo Petrotemex SA de CV
|
| Description: | Add on to senior notes
|
| Amount: | $75 million
|
| Maturity: | Aug. 19, 2014
|
| Bookrunners: | Banc of America Securities, JP Morgan
|
| Coupon: | 9½%
|
| Price: | 102.5
|
| Yield: | 8.832%
|
| Call features: | Make-whole call at Treasuries plus 50 bps
|
| Change-of-control put: | At 101% plus accrued interest
|
| Trade date: | Dec. 3
|
| Settlement date: | Dec. 8, with accrued interest from Aug. 19
|
| Ratings: | Fitch: BB+
|
| Distribution: | Rule 144A/Regulation S
|
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