By Paul A. Harris
Portland, Ore., April 16 – Abengoa Finance SAU priced a €375 million issue of non-callable 7% five-year senior notes (B2/B/B) at 97.954 to yield 7½% on Thursday, according to a market source.
The yield printed at the tight end of the 7½% to 7¾% yield talk.
Global coordinator HSBC Bank plc will bill and deliver. Citigroup Global Markets Ltd. was also a global coordinator.
Bankia, Credit Agricole CIB, Morgan Stanley, Natixis, Banco Santander and SG CIB were the passive bookrunners.
The Seville, Spain-based engineering and clean technology company plans to use the proceeds to partially refinance its notes due in 2016.
| Issuer: | Abengoa Finance SAU
|
| Amount: | €375 million
|
| Maturity: | April 15, 2020
|
| Securities: | Senior notes
|
| Global coordinators: | HSBC Bank plc (bill and deliver), Citigroup Global Markets Ltd.
|
| Passive bookrunners: | Bankia, Credit Agricole CIB, Morgan Stanley, Natixis, Banco Santander, SG CIB
|
| Coupon: | 7%
|
| Price: | 97.954
|
| Yield: | 7½%
|
| Spread: | 765 bps
|
| Call protection: | Non-callable
|
| Trade date: | April 16
|
| Settlement date: | April 21
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 7½% to 7¾%
|
| Marketing: Roadshow
|
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