Published on 11/4/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Argentina's Arcor prices $200 million 7¼% notes due 2017 at par
By Christine Van Dusen
Atlanta, Nov. 4 - Argentina's Arcor SAIC priced $200 million senior notes due 2017 (B1//B+) at par to yield 7¼%, a market source said.
JPMorgan, Santander and BNP Paribas were the bookrunners for the Rule 144A and Regulation S deal, which was whispered to yield in the 8% area.
The notes are non-callable for four years.
Arcor is a candy maker based in Cordoba, Argentina.
Issuer: | Arcor SAIC
|
Amount: | $200 million
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Maturity: | Nov. 9, 2017
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Description: | Senior notes
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Bookrunners: | JPMorgan, Santander, BNP Paribas
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Coupon: | 7¼%
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Price: | Par
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Yield: | 7¼%
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Call option: | Non-callable for four years, then callable at 103.625, 101.813, par
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Trade date: | Nov. 4
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Settlement date: | Nov. 9
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Ratings: | Moody's: B1
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| Fitch: B+
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Distribution: | Rule 144A and Regulation S
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Price talk: | Whispered to yield in the 8% area
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