By Christine Van Dusen
Atlanta, Oct. 20 - Brazil's Ceagro Agricola Ltda. priced $100 million 10¾% notes (/B/B-) due May 16, 2016 at 98.965 to yield 11%, a market source said.
Jefferies was the bookrunner for the Rule 144A and Regulation S deal, which was talked to yield in the 11% area.
Proceeds will be used to repay existing debt, for working capital and for general corporate purposes.
Ceagro Agricola is a Sao Paulo-based soft-commodities trading company.
| Issuer: | Ceagro Agricola Ltda.
|
| Amount: | $100 million
|
| Maturity: | May 16, 2016
|
| Description: | Senior secured notes
|
| Bookrunner: | Jefferies
|
| Coupon: | 10¾%
|
| Price: | 98.965
|
| Yield: | 11%
|
| Trade date: | Oct. 20
|
| Settlement date: | Oct. 27
|
| Ratings: | Standard & Poor's: B
|
| Fitch: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 11% area
|
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