By Paul A. Harris
St. Louis, Nov. 23 - Mexico's Grupo Televisa priced an upsized $600 million issue of 6 5/8% 30-year notes (Baa1/BBB+/BBB+) on Monday to yield 245 basis points spread over Treasuries, according to market sources.
The deal came tight to the Treasuries plus 250 bps price talk.
The issue was sold at a reoffer price of 98.318, resulting in a 6.755% yield to maturity.
Credit Suisse ran the books for the deal, which was upsized from $400 million.
Proceeds will be used for general corporate purposes.
The issuer is a Mexico City-based broadcaster.
| Issuer: | Grupo Televisa
|
| Securities: | Notes
|
| Amount: | $600 million, increased from $400 million
|
| Proceeds: | $589,914,000
|
| Maturity: | Jan. 15, 2040
|
| Bookrunner: | Credit Suisse
|
| Coupon: | 6 5/8%
|
| Price: | 98.318
|
| Yield: | 6.755%
|
| Spread: | Treasuries plus 245 bps
|
| Call protection: | Make-whole call at Treasuries plus 45 bps
|
| Trade date: | Nov. 23
|
| Settlement date: | Nov. 30
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's; BBB+
|
| Fitch: BBB+
|
| Distribution: | Rule 144A/Regulation S with registration rights
|
| Price talk: | Treasuries plus 250 bps
|
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