By Rebecca Melvin
New York, July 21 – Creditvalores-Crediservicios SAS priced $250 million of 9¾% five-year notes (expected ratings: B+/B+) at 99.035 to yield 10%, a market source said on Friday.
Pricing on the Rule 144A and Regulation S notes, which had been seen at up to $300 million in size, came beyond the wide end of talk for a yield in the mid-to-high 9% range.
Credit Suisse and BCP Securities LLC were the bookrunners for the notes, which priced on Thursday. The notes have three years of call protection.
The Bogota, Colombia-based consumer lender plans to use the proceeds for refinancing and general corporate purposes.
| Issuer: | Creditvalores-Crediservicios SAS
|
| Issue: | Senior notes
|
| Amount: | $250 million
|
| Maturity: | July 27, 2022
|
| Bookrunners: | Credit Suisse and BCP Securities LLC
|
| Coupon: | 9¾%
|
| Price: | 99.035
|
| Yield: | 10%
|
| Calls | Non-callable for three years
|
| Trade date: | July 20
|
| Settlement date: | July 27
|
| Ratings: | S&P’s: B+
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-to-high 9% range
|
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