By Christine Van Dusen
Atlanta, July 24 – Chile’s GNL Quintero SA sold $1.1 billion 15-year notes (expected ratings: Baa2/BBB/BBB+) on Thursday at par to yield 4.634%, or Treasuries plus 212.5 basis points, a market source said.
The notes were talked at a spread in the mid-200 bps area.
BBVA, BofA Merrill Lynch, HSBC and Santander were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to refinance debt and for general corporate purposes.
The issuer is a Santiago-based liquefied natural gas company.
| Issuer: | GNL Quintero SA
|
| Amount: | $1.1 billion
|
| Maturity: | July 31, 2029
|
| Description: | Notes
|
| Bookrunners: | BBVA, BofA Merrill Lynch, HSBC, Santander
|
| Coupon: | 4.634%
|
| Price: | Par
|
| Yield: | 4.634%
|
| Spread: | Treasuries plus 212.5 bps
|
| Trade date: | July 24
|
| Settlement date: | July 31
|
| Expected ratings: | Moody’s: Baa2
|
| Standard & Poor’s: BBB
|
| Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus mid-200 bps area
|
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