Philippines' Atlas sets guidance for five-year notes at 6¾% area

By Aleesia Forni

Columbus, Ohio, March 8 - Atlas Consolidated Mining and Development Corp.'s wholly owned subsidiary, Carmen Copper Corp., has set initial guidance for its proposed minimum of $300 million five-year and five-day dollar-denominated unrated fixed-rate notes in the 6¾% area, according to a market source.

The deal is expected to come Friday.

BDO Capital & Investment Corp. and Credit Suisse Securities (Europe) Ltd. will be the joint bookrunners for the proposed Regulation S offering.

Proceeds will be used to refinance existing debt, to fund capital expenditures and for other general corporate purposes.

Mandaluyong, Philippines-based Carmen Copper engages in searching, exploring, mining and processing ores and mineral resources in the Philippines.

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