By Paul A. Harris
Portland, Ore., Oct. 30 - Spanish conglomerate Abengoa Finance SAU priced a €50 million add-on to its 8 7/8% senior notes due Feb. 5, 2018 (existing ratings B2/B) at 105.25 to yield 7.408% on Wednesday, according to market sources.
The reoffer price came at the rich end of the 105 to 105.25 price talk.
Morgan Stanley ran the books.
The Seville, Spain-based company plans to use the proceeds to refinance debt.
Abengoa has interests in the energy, telecommunications, logistics and environmental sectors.
| Issuer: | Abengoa Finance, SAU
|
| Face amount: | €50 million
|
| Proceeds: | €52.625 million
|
| Maturity: | Feb. 5, 2018
|
| Security description: | Add-on to the 8 7/8% senior notes due Feb. 5, 2018
|
| Bookrunner: | Morgan Stanley
|
| Coupon: | 8 7/8%
|
| Price: | 105.25
|
| Yield: | 7.408%
|
| Call protection: | Non-callable
|
| Trade date: | Oct. 30
|
| Settlement date: | Nov. 5 with accrued interest
|
| Existing ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 105 to 105.25
|
| Marketing: | Quick to market
|
| Original issue: | €250 million priced at par on Jan. 25, 2013
|
| Total issue size: | €300 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
