EM-focused Stoneway Capital plans to price $500 million 10-year notes on Friday

By Christine Van Dusen

Atlanta, Feb. 9 – Stoneway Capital Corp. is expected to price on Friday a $500 million offering of 10-year senior secured notes (B3/B), a market source said.

Jefferies is the bookrunner for the Rule 144A and Regulation S deal.

The notes are non-callable for five years.

Proceeds will be used to help fund four simple-cycle power plants in Argentina.

Stoneway Capital, a private company with equity contributed by Siemens AG, was formed for the purpose of constructing, owning and operating four simple-cycle power-generating plants in the Buenos Aires region of Argentina. The company has secured four Power Purchase Agreements through Argentina's Ministry of Energy and Mining for a 10-year period on each.

Stoneway Capital is incorporated in New Brunswick, Canada.

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