Chicago, April 26 – Empresa de Transmision Electrica SA (Etesa) priced $500 million of 5 1/8% notes (Baa1//BBB) due 2049, according to a company notice.
The Rule 144A and Regulation S notes priced at par.
Books were nearly five times oversubscribed for the company’s first issuance of corporate bonds.
Prospect News reported earlier that BofA Merrill Lynch and Scotia Capital were the bookrunners.
Proceeds will be used to repay short-term debt.
The electricity transmission company in Panama is wholly owned by the government.
| Issuer: | Empresa de Transmision Electrica SA (Etesa)
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | May 2049
|
| Bookrunners: | BofA Merrill Lynch and Scotia Capital
|
| Coupon: | 5 1/8%
|
| Price: | Par
|
| Yield: | 5 1/8%
|
| Pricing date: | April 26
|
| Ratings: | Moody’s: Baa1
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
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