By Colin Hanner
Chicago, May 1 – Guatemala’s Energuate priced a downsized $330 million 5 7/8% 10-year notes at par on Friday, a market source said.
The size of the bond (Ba2//BB) was initially $350 million.
The electricity distributor wrapped up a roadshow on Wednesday, a market source said.
Credit Suisse, ScotiaBank and Banco Santander were bookrunners for the deal.
Distribuidora de Electricidad del Oriente SA (Deorsa) and Distribuidora de Electricidad del Occidente SA (Deocsa) are guarantors for notes, according to Fitch Ratings.
The issuer is a Guatemala City-based electric utility company.
| Issuer: | Energuate
|
| Guarantor: | Distribuidora de Electricidad del Oriente SA (Deorsa) and Distribuidora de Electricidad del Occidente SA (Deocsa)
|
| Description: | Notes
|
| Amount: | $330 million
|
| Maturity: | May 3, 2027
|
| Bookrunners: | Credit Suisse, ScotiaBank and Banco Santander
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Trade date: | April 28
|
| Settlement date: | May 3
|
| Ratings: | Moody’s: Ba2
|
| Fitch: BB
|
| Distribution: | Roadshow
|
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