Chicago, Oct. 21 – JSM Global Sarl sold an upsized issue of $500 million 4¾% notes with a 10-year tenor (Ba1/BB), according to a company announcement.
The notes are guaranteed by parent Lojas Americanas SA.
The size of the issue was upsized from $350 million.
Proceeds from the Rule 144A and Regulation S issue were slated to be used to refinance a portion of short and medium-term debt and for general corporate purposes, according to Moody’s Investors Service.
The parent operates a Brazilian retail chain of over 1,400 stores in all 26 Brazilian states. Headquarters are in Rio de Janeiro.
| Issuer: | JSM Global Sarl
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| Guarantor: | Lojas Americanas SA
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| Issue: | Notes
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| Amount: | $500 million, upsized from $350 million
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| Maturity: | 10 years
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| Coupon: | 4¾%
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| Announcement date: | Sept. 29
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| Ratings: | Moody’s: Ba1
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| S&P: BB
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| Distribution: | Rule 144A and Regulation S
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