Published on 6/21/2007 in the Prospect News Emerging Markets Daily.
New Issue: Singapore's BW Group sells $500 million 10-year bonds at mid-swaps plus 55 bps
By Reshmi Basu
New York, June 21 - BW Group sold $500 million 10-year senior unsecured fixed-rate bonds (Baa3) at 99.46 to yield 55 basis points more than mid-swaps, according to a market source.
HSBC and Morgan Stanley ran the books for the Rule 144A and Regulation S deal.
The issuer is a Singapore-based shipping group.
| Issuer: | BW Group
|
| Amount: | $500 million
|
| Issue: | Senior unsecured fixed-rate bonds
|
| Maturity: | June 28, 2017
|
| Coupon: | 6 5/8%
|
| Issue price: | 99.46
|
| Spread: | 55 basis points more than mid-swaps
|
| Lead managers: | HSBC, Morgan Stanley
|
| Pricing date: | June 21
|
| Rating: | Moody's: Baa3
|
| Distribution: | Rule 144A/Regulation S
|
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