Brazil’s Light edges up; Canacol talks deal; Sixsigma, Elering price; Huawei pulls deal

By Rebecca Melvin

New York, April 26 – Light SA’s newly priced 7¼% five-year notes edged up slightly by about ¼ point in the early going on Thursday after the Rio de Janeiro-based electric utility priced $600 million of the notes at 99.485. The issuers were Light Servicios de Electricidade SA and Light Energia SA.

The deal was viewed as having done pretty well having attracted demand given that it is a pretty strong retail oriented company.

Two other deals also priced with Light on Wednesday including Gilex Holding Sarl’s $300 million of five-year notes, priced at par to yield 8½%, and InRetail Pharma SA’s $400 million of 5 3/8% five-year notes, which priced at 99.676.

The trio of Latin America deals was followed up with more pricings for the region on Thursday. Mexico’s Sixsigma Networks Mexico SA de CV (KIO Networks) priced $300 million of seven-year notes at par to yield 7½%, according to a syndicate source.

Canacol Energy Ltd. was also thought to be pricing on Thursday with initial price talk for a dollar offering of medium-term notes putting yield at 7½%.

Meanwhile the day saw a casualty as the planned Huawei Investment & Holding Co. Ltd. deal of five-year euro-denominated notes was pulled by the China cellular company after it launched on Wednesday.

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