By Andrea Heisinger
New York, June 4 - Yara International ASA sold $500 million 7.875% 10-year senior notes Thursday to yield 7.95%, an informed source said.
The notes (Baa2/BBB/) priced at 99.489 with a spread of Treasuries plus 424.6 basis points. The notes have a make-whole call of Treasuries plus 50 bps.
The deal was priced via Rule 144A.
Bookrunners were BNP Paribas Securities Corp., Barclays Capital Inc. and Citigroup Global Markets Inc.
The plant fertilizer company is based in Oslo, Norway.
| Issuer: | Yara International ASA
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | June 11, 2019
|
| Bookrunners: | BNP Paribas Securities Corp., Barclays Capital Inc., Citigroup Global Markets Inc.
|
| Coupon: | 7.875%
|
| Price: | 99.489
|
| Yield: | 7.95%
|
| Spread: | Treasuries plus 424.6 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Distribution: | Rule 144A
|
| Trade date: | June 4
|
| Settlement date: | June 11
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
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