By Rebecca Melvin
New York, March 27 – Klabin Austria GmbH sold $1 billion of senior notes in two tranches due 2029 and 2049 (BB+/BB+), according to a market source on Wednesday.
The notes are guaranteed by Klabin SA.
The $500 million of 5¾% notes due 2029 priced to yield 5.8%,
The $500 million of 7% notes due 2049 priced to yield 7 1/8%.
Bookrunners of the Rule 144A and Regulation S notes were BofA Merrill Lynch, Banco Bradesco BBI, Citigroup, HSBC, Itau BBA and Santander.
The proceeds are expected to be used for general purposes and debt refinancing.
The pulp, paper and paper products company is based in Sao Paulo.
| Issuer: | Klabin Austria GmbH
|
| Guarantor: | Klabin SA
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Bookrunners: | BofA Merrill Lynch, Banco Bradesco BBI, Citigroup, HSBC, Itau BBA and Santander
|
| Trade date: | March 27
|
| Settlement date: | April 3
|
| Ratings: | S&P: BB+
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2029 notes
|
| Amount: | $500 million
|
| Maturity: | April 3, 2029
|
| Coupon: | 5¾%
|
| Yield: | 5.8%
|
|
|
| 2049 notes
|
| Amount: | $500 million
|
| Maturity: | April 3, 2049
|
| Coupon: | 7%
|
| Yield: | 7 1/8%
|
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