By Paul A. Harris
St. Louis, July 14 - The Aromatics Thailand Public Co. Ltd. priced a $300 million issue of 5½% seven-year senior notes (Baa3/BBB) at 99.845 to yield 5.527%, market sources told Prospect News Thursday morning.
The notes priced at a 150 basis points spread to U.S. Treasuries, on the tight end of the 150 to 155 basis points price talk.
ABN Amro and UBS Investment Bank ran the books for the Regulation S-only offering.
Proceeds will be used to fund the construction of a plant.
The offering had previously been postponed on June 30.
The issuer is a petrochemical company based in Bangkok.
| Issuer: | The Aromatics Thailand Public Co. Ltd.
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| Amount: | $300 million
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| Maturity: | July 20, 2012
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| Security description: | Senior notes
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| Bookrunners: | ABN Amro, UBS Investment Bank
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| Coupon: | 5½%
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| Price: | 99.845
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| Yield: | 5.527%
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| Spread: | 150 basis points
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| Settlement date: | July 20
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Price talk: | U.S. Treasuries plus 150 to 155 basis points
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