Published on 4/30/2010 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Argentina's Pan American Energy sells $500 million 7 7/8% notes due 2021 to yield 8 1/8%
By Christine Van Dusen
Atlanta, April 30 - Pan American Energy LLC, Argentina branch priced $500 million 7 7/8% notes due May 7, 2021 (Ba2//BB-) at 98.204 to yield 8 1/8%, a market source said.
Credit Agricole CIB, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S offering, which was talked at 8 1/8%.
Pan American Energy is a company involved in exploration, development and production of oil and gas in Argentina.
Issuer: | Pan American Energy LLC, Argentina branch
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Amount: | $500 million
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Maturity: | May 7, 2021
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Description: | Notes
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Bookrunners: | Credit Agricole CIB, HSBC, JPMorgan
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Coupon: | 7 7/8%
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Price: | 98.204
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Yield: | 8 1/8%
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Trade date: | April 30
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Settlement date: | May 7
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Ratings: | Moody's: Ba2
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| Fitch: BB-
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Distribution: | Rule 144A/Regulation S
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Price talk: | 8 1/8%
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