By William Gullotti
Buffalo, N.Y. May 17 – Al Candelaria priced $600 million of 5¾% senior secured notes due 2033 (BB-/BB+), according to a listing notice.
Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC and SMBC Nikko Securities America, Inc. were the joint bookrunners for the Rule 144A and Regulation S notes.
Proceeds, according to S&P Global Ratings, will be used to fund a tender offer for up to $350 million of its $750 million of senior secured notes due 2028 and to increase its stake in Oleoducto Central, SA (Ocensa) to a total of 27.352%
Based in Madrid, the issuer is a Spanish holding company that invests in shares of Oleoducto Central SA, a Colombian company that owns and operates the Ocensa Pipeline.
| Issuer: | Al Candelaria
|
| Amount: | $600 million
|
| Maturity: | June 15, 2033
|
| Securities: | Senior secured notes
|
| Bookrunners: | Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc.
|
| Coupon: | 5¾%
|
| Issue date: | May 13
|
| Listing date: | May 18
|
| Ratings: | S&P: BB-
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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