By Christine Van Dusen
Atlanta, July 9 – Brazil’s Klabin SA sold $500 million 10-year notes (expected ratings: BBB-/BBB-/) at par to yield 5¼%, or Treasuries plus 269.1 basis points, on Wednesday, a market source said.
The notes were initially talked in the mid-5% area.
BB Securities, Bradesco BBI, HSBC, Itau BBA and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
Klabin is a Sao Paulo-based pulp, paper and paper products company.
| Issuer: | Klabin SA
|
| Amount: | $500 million
|
| Maturity: | July 16, 2024
|
| Description: | Notes
|
| Bookrunners: | BB Securities, Bradesco BBI, HSBC, Itau BBA and Morgan Stanley
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Spread: | Treasuries plus 269.1 bps
|
| Trade date: | July 9
|
| Settlement date: | July 16
|
| Expected ratings: Moody’s: BBB-
|
| Standard & Poor’s: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-5% 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.
