By Reshmi Basu
New York, Dec. 15 - Telecom Personal SA sold an upsized offering of $240 million in five-year bonds (/B-/B-) at 99.51 with a 9¼% coupon to yield 9 3/8%, according to a market source.
The deal, increased from $200 million, priced at the wide end of price guidance that called for a 9¼% to 9 3/8% yield.
JP Morgan was the bookrunner for the Rule 144A and Regulation S deal. Deutsche Bank was co-manager.
Proceeds from the sale will be used to refinance the company's series A and series B loans.
Buenos Aires-based Telecom Personal is a wireless services business wholly owned by Telecom Argentina.
| Issuer: | Telecom Personal SA
|
| Amount: | $240 million
|
| Maturity: | Dec. 22, 2010
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| Coupon: | 9¼%
|
| Issue price: | 99.51
|
| Yield: | 9 3/8%
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| Pricing date: | Dec. 15
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| Settlement date: | Dec. 22
|
| Bookrunner: | JP Morgan
|
| Co-manager: | Deutsche Bank
|
| Ratings: | Standard & Poor's: B-
|
| Fitch: B-
|
| Price guidance: | 9¼% to 9 3/8%
|
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