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Prospect News home > News index > List of issuers S > Headlines for Siderurgica del Turbio SA (Sidetur) > News item |
Venezuela's Sidetur sets talk for $100 million 10-year notes at 10% area
By Reshmi Basu
New York, April 24 - Sidetur Finance BV set price guidance for a $100 million offering of 10-year senior unsecured amortizing notes (//B+) at the 10% area, according to a market source.
The issuer is a wholly owned subsidiary of Siderurgica del Turbio, SA (Sidetur), which will guarantee the issue of fixed-rate notes.
Proceeds from the sale will be used to refinance debt.
Deutsche Bank is the bookrunner for the Rule 144A and Regulation S transaction.
The Caracas, Venezuela-based Sidetur manufactures semi-finished and finished steel products.
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