By Rebecca Melvin
New York, Nov. 21 – CEZ a.s. priced €750 million of 7/8% seven-year notes at 99.126 to yield 1.005%, or mid-swaps plus 110 basis points, on Thursday, according to a syndicate source.
Pricing was tightened from guidance of mid-swaps plus 115 bps to 120 bps and initial price talk of mid-swaps plus 135 bps to 140 bps. The Czech integrated electricity conglomerate opted for the shorter end of a talked maturity range of seven to 10 years.
Order books were in excess of €2.3 billion at the time guidance was released.
Barclays, BNP Paribas, Citigroup, Deutsche Bank and HSBC were joint bookrunners of the Regulation S transaction, which priced under the conglomerate’s €8 billion medium-term note program.
| Issuer: | CEZ a.s.
|
| Amount: | €750 million
|
| Maturity: | Dec. 2, 2026
|
| Description: | Senior notes
|
| Joint bookrunners: | Barclays, BNP Paribas, Citigroup, Deutsche Bank and HSBC
|
| Coupon: | 7/8%
|
| Price: | 99.126
|
| Yield: | 1.005%
|
| Spread: | Mid-swaps plus 110 bps
|
| Trade date: | Nov. 21
|
| Settlement date: | Dec. 2
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| Distribution: | Regulation S
|
| Price talk: | Guided to mid-swaps plus 115-120 bps from initial talk of mid-swaps plus 135-140 bps
|
© 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.
