By Christine Van Dusen and Paul A. Harris
Atlanta, Oct. 21 - Lumena Resources Corp. (B1/BB-) on Wednesday priced a $250 million issue of 12% five-year global senior notes at 99.085 to yield 12¼%, according to a market source.
The bonds will mature Oct. 27, 2014 and are non-callable for three years.
Pricing matched talk, which was previously set at the 12¼% area.
BOC International, Credit Suisse and Deutsche Bank Securities are the joint bookrunners for the Rule 144A and Regulation S issue.
Proceeds will be used to repay an approximately $123 million loan from BOC, to fund capital expenditures and for general corporate purposes.
Lumena is a miner, processor and manufacturer of thenardite products based in Chengdu, China.
| Issuer: | Lumena Resources Corp.
|
| Amount: | $250 million
|
| Maturity: | Oct. 27, 2014
|
| Description: | Global senior notes
|
| Bookrunners: | BOC International, Credit Suisse, Deutsche Bank Securities
|
| Coupon: | 12%
|
| Price: | 99.085
|
| Yield: | 12 ¼%
|
| Call: | Make-whole up to Oct. 27, 2012, then at 106, 103 from Oct. 27, 2013
|
| Equity clawback: | For up to 35% at 112 until Oct. 27, 2012
|
| Pricing date: | Oct. 21
|
| Settlement: | Oct. 27
|
| Distribution: | Rule 144/Regulation S
|
| Price guidance: | 12¼% area
|
| Ratings: | | Moody's: B1
|
| Standard & Poor's: BB-
|
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