By Rebecca Melvin and Cristal Cody
Concord, N.H., Jan. 11 – GCC SAB de CV (formerly known as Grupo Cementos de Chihuahua SAB de CV) priced $500 million 3.614% sustainability-linked senior notes due 2032 (BBB-/BBB-) to yield Treasuries plus 185 basis points, according to a company press release and a market source.
Final pricing was tight to talk for yield in the area of Treasuries plus 210 bps.
Bookrunners for the offering are BBVA Securities, Citigroup, JPMorgan and Scotia.
Proceeds of the Rule 144A and Regulation S deal will be used to fund the redemption of the entire amount of GCC 5¼% notes due in 2024, to partially refinance bank debt and for general corporate purposes.
With headquarters in Chihuahua, Mexico, GCC produces cement, concrete, aggregates and innovative products for the construction industries in Mexico, the United States, Latin America and Canada.
| Issuer: | GCC SAB de CV
|
| Amount: | $500 million
|
| Issue: | Sustainability-linked bonds
|
| Maturity: | April 15, 2032
|
| Bookrunners: | BBVA Securities, Citigroup, JPMorgan and Scotia
|
| Co-manager: | Credit Agricole
|
| Coupon: | 3.614%
|
| Spread: | Treasuries plus 185 bps
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 13
|
| Ratings: | S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 210 bps area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
