By Aaron Hochman-Zimmerman
New York, July 23 - Banca Mifel SA completed the sale of its $100 million perpetual tier I notes (B-/BB) at par with a coupon of 11%, according to a market source.
The offer, which had been lowered to $100 million from $120 million, came wider than talk which put the yield in the 10½% area.
Deutsche Bank was the bookrunner for the Rule 144A and Regulation S deal.
The bonds are callable at par on July 25, 2012.
Grupo Mifel is a Mexico City-based commercial and investment bank.
| Issuer: | Banca Mifel SA
|
| Amount: | $100 million
|
| Issue: | Subordinated tier I notes
|
| Maturity: | Perpetual
|
| Bookrunner: | Deutsche Bank
|
| Coupon: | 11%
|
| Price: | Par
|
| Yield: | 11%
|
| Call: | July 25, 2012 at par
|
| Pricing date: | July 20
|
| Settlement date: | July 25
|
| Distribution: | Rule 144A, Regulation S
|
| Ratings: | Standard & Poor's: B-
|
| Fitch: BB
|
| Talk: | 10½% area
|
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