By Paul A. Harris
Portland, Ore., Feb. 22 - City of Buenos Aires priced a $415 million issue of non-callable five-year notes (expected ratings B2/B/B) at par to yield 9.95% on Wednesday less than a week after it withdrew a bond offering due to market conditions, according to syndicate sources.
The deal launched earlier in the Wednesday session at the same size and yield.
Barclays Capital, BTG Pactual and Citigroup were the bookrunners.
Proceeds will be used to repay debt and finance infrastructure projects.
| Issuer: | City of Buenos Aires
|
| Amount: | $415 million
|
| Maturity: | Five years
|
| Bookrunners: | Barclays Capital, BTG Pactual, Citigroup
|
| Co-managers: | Marco, Puente
|
| Coupon: | 9.95%
|
| Price: | Par
|
| Yield: | 9.95%
|
| Call protection: | Non-callable
|
| Trade date: | Feb. 22
|
| Expected ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Launched: | $415 million at 9.95%
|
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