By Christine Van Dusen
Atlanta, March 30 - The City of Buenos Aires priced $475 million 12 ½% notes due April 6, 2015 (B2/B-) at par to yield 12½%, according to a market source.
The deal came at the tight end of talk for a yield of 12½% to 13%.
Credit Suisse was bookrunner for the Rule 144A and Regulation S deal.
Proceeds will be used to fund infrastructure investments, projects in the city's hospitals, road developments, urban hygiene programs, education and expansion of the subway system.
| Issuer: | City of Buenos Aires
|
| Amount: | $475 million
|
| Maturity: | April 6, 2015
|
| Coupon: | 12½%
|
| Price: | Par
|
| Yield: | 12½%
|
| Bookrunner: | Credit Suisse
|
| Trade date: | March 30
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B-
|
| Disribution: | Rule 144A and Regulation S
|
| Price talk: | 12½% to 13%
|
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