By Paul A. Harris
Portland, Ore., Jan. 28 - Puma Energy Holdings Pte. Ltd. priced $750 million seven-year senior notes (Ba3//BB) at par to yield 6¾% on Tuesday, according to a market source.
The yield printed on top of yield talk.
Goldman Sachs International and SG CIB were the joint global coordinators. ING, Natixis, RMB and Standard Bank were joint bookrunners.
Proceeds will be used to refinance debt and fund development.
The Singapore-based midstream and downstream oil group has refined petroleum products supply, storage and distribution operations in Central America, the Caribbean, Africa and Australia.
| Issuer: | Puma International Financing SA (Puma Energy Holdings Pte. Ltd.)
|
| Amount: | $750 million
|
| Maturity: | Feb. 1, 2021
|
| Securities: | Senior notes
|
| Joint global coordinators: | Goldman Sachs International, SG CIB
|
| Joint bookrunners: | ING, Natixis, RMB, Standard Bank
|
| Coupon: | 6¾%
|
| Price: | Par
|
| Yield: | 6¾%
|
| Spread: | 455 bps
|
| First call: | Feb. 1, 2017 at 103.375
|
| Trade date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 6¾% area
|
| Marketing: | Roadshow
|
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