Published on 1/23/2018 in the Prospect News Emerging Markets Daily.
New Issue: Argentina’s Genneia prices $150 million add-on to 8¾% notes due 2022 at 109
By Rebecca Melvin
New York, Jan. 23 – Argentina’s Genneia SA priced a $150 million reopening of its 8¾% notes (B3//B+) due 2022 on Tuesday at 109 to yield 5.967%, according to a market source.
The Rule 144A and Regulation S notes were sold via bookrunners Citigroup, BofA Merrill Lynch and Itau BBA. Total deal size is now $500 million.
Genneia, a power company based in Buenos Aires, priced the initial $350 million of the 8¾% notes in January 2017.
| Issuer: | Genneia SA
|
| Amount: | $150 million add-on
|
| Maturity: | 2022
|
| Description: | Notes
|
| Bookrunners: | Citigroup, BofA Merrill Lynch and Itau BBA
|
| Coupon: | 8¾%
|
| Price: | 109
|
| Yield: | 5.967%
|
| Call options: | Non-callable until 2020
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 30
|
| Expected ratings: | Moody’s: B3
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Total deal size: | $500 million, including $350 million priced in January 2017 at par
|
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