By William Gullotti and Cristal Cody
Buffalo, N.Y., Jan. 31 – Corporacion Nacional del Cobre de Chile (Codelco) priced $900 million of 5 1/8% senior notes due 2033 (A3/A) on Monday at a spread of 158 basis points over Treasuries, according to information from a market source.
Pricing started in the Treasuries plus 200 bps area.
The bookrunners are BofA Securities, BNP Paribas, Santander and Scotia Capital.
The order book was oversubscribed by a factor of 10 from 400 accounts.
Proceeds, according to a company press release, will be used to enhance liquidity. Moody’s Investors Service noted that proceeds would be used for general corporate purposes, including to fund upcoming debt maturities.
Codelco is a Santiago, Chile-based copper mining company.
| Issuer: | Corporacion Nacional del Cobre de Chile (Codelco)
|
| Amount: | $900 million
|
| Issue: | Senior notes
|
| Maturity: | Feb. 2, 2033
|
| Bookrunners: | BofA Securities, BNP Paribas, Santander and Scotia Capital
|
| Coupon: | 5 1/8%
|
| Yield: | 5.133%
|
| Spread: | Treasuries plus 158 bps
|
| Pricing date: | Jan. 30
|
| Ratings: | Moody’s: A3
|
| S&P: A
|
| Initial talk: | Treasuries plus 200 bps area
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
