By Rebecca Melvin
New York, Sept. 12 – Brazil’s Klabin Finance SA, a subsidiary of Klabin SA, sold $500 million of 4 7/8% 10-year senior notes (expected ratings: BB+/BB+) at 99.414 to yield 4.95% on Tuesday, according to a market source.
The Rule 144A and Regulation S notes were initially talked at 5 3/8% and revised down to 5%.
Bookrunners were BofA Merrill Lynch, Santander Investment Securities, Itau BBA, Citigroup and Morgan Stanley.
Proceeds will be used for finance and refinancing of eligible green projects.
Klabin is a Sao Paulo-based pulp, paper and paper products company.
| Issuer: | Klabin Finance SA
|
| Guarantor: | Klabin SA
|
| Amount: | $500 million
|
| Maturity: | Sept. 19, 2027
|
| Description: | Notes
|
| Bookrunners: | BofA Merrill Lynch, Santander Investment Securities, Itau BBA, Citigroup and Morgan Stanley
|
| Coupon: | 4 7/8%
|
| Price: | 99.414
|
| Yield: | 4.95%
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 19
|
| Expected ratings: | S&P: BB+
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Initial talk at 5 3/8%, revised down to 5%
|
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