By Rebecca Melvin
New York, April 27 – Argentina’s Transportadora de Gas del Sur SA priced $500 million 6¾% seven-year notes (expected rating: B1/B+) at 99.725 to yield 6.91% on Thursday, according to a market source.
The notes had been talked at a maturity of between five and 10 years.
HSBC, Itau Unibanco, JPMorgan and Banco Santander were the bookrunners of the Rule 144A and Regulation S deal.
TGS is using proceeds to tender its outstanding 2020 senior notes, which total about $191 million. Any remaining proceeds will be used by the company to fund its investment program.
The issuer is a Buenos Aires-based oil and natural gas company.
| Issuer: | Transportadora de Gas del Sur SA
|
| Issue: | Notes
|
| Amount: | $500 million
|
| Maturity: | May 2, 2025
|
| Bookrunners: | HSBC, Itau Unibanco, JPMorgan, Banco Santander
|
| Coupon: | 6¾%
|
| Price: | 99.725
|
| Yield: | 6.91%
|
| Pricing date: | April 26
|
| Settlement date: | May 2
|
| Ratings: | Moody’s: B1
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
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