By Reshmi Basu and Paul A. Harris
St. Louis, Feb. 3 - CMA-CGM SA priced an upsized $300 million issue of seven-year senior notes at par on Friday to yield 7¼%, according to a syndicate source.
The non-rated notes came at the tight end of the 7¼% to 7½% price talk.
BNP Paribas ran the books for the notes, which were sold via Rule 144A and Regulation S. Natexis and Sumitomo were the co-managers.
Proceeds will be used to finance the purchase of new container vessels.
The issue was upsized from $250 million.
The issuer is a Marseille, France-based global container shipping services provider.
| Issuer: | CMA-CGM SA
|
| Amount: | $300 million (increased from $250 million)
|
| Maturity: | Feb. 1, 2013
|
| Security description: | Senior notes
|
| Bookrunner: | BNP Paribas
|
| Co-managers: | Natexis, Sumitomo
|
| Coupon: | 7¼%
|
| Price: | Par
|
| Yield: | 7¼%
|
| Spread: | 267 basis points
|
| Call features: | Callable on Feb. 1, 2009 at 107.25, 103.625, 101.813, par on and after Feb. 1, 2012
|
| Trade date: | Feb. 2
|
| Settlement date: | Feb. 10
|
| Rating: | Non-rated
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 7¼%-7½%
|
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