By Christine Van Dusen
Atlanta, June 20 - Banco Continental Paraguay SAECA priced a $200 million issue of 8 7/8% notes due June 25, 2017 at par, a market source said.
The notes were talked at the 9% area.
Bank of America Merrill Lynch was the bookrunner for the Rule 144A and Regulation S notes.
Proceeds will be used for general corporate purposes and to fund medium- and long-term loans to customers.
Banco Continental Paraguay is a lender based in Asuncion, Paraguay.
| Issuer: | Banco Continental Paraguay SAECA
|
| Amount: | $200 million
|
| Maturity: | June 25, 2017
|
| Description: | Notes
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Coupon: | 8 7/8%
|
| Price: | Par
|
| Yield: | 8 7/8%
|
| Trade date: | June 20
|
| Settlement date: | June 25
|
| Expected rating: Moody's: Ba3
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9% area
|
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