By Cristal Cody
Chicago, Sept. 10 – Alfa Desarrollo SpA sold $1.1 billion of 4.55% 30-year bonds (Baa3/BBB-) at par on Thursday, according to a market source.
The yield came lower than talk, which expected the yield in the low 5% area.
Citigroup. JPMorgan, Santander and SMBC are handling the Rule 144A and Regulation S offering.
The company will use the proceeds to partially fund the acquisition of Colbun SA's transmission assets in Chile and to pay transaction fees and expenses, according to Moody’s Investors Service.
Chile’s Alfa Desarrollo is a consortium led by Dutch pension fund APG Energy and Infra Investments.
| Issuer: | Alfa Desarrollo SpA
|
| Issue: | Bonds
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| Amount: | $1.1 billion
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| Maturity: | Sept. 27, 2051
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| Bookrunners: | Citigroup. JPMorgan, Santander and SMBC
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| Coupon: | 4.55%
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| Price: | Par
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| Yield: | 4.55%
|
| Trade date: | Sept. 9
|
| Ratings: | Moody’s: Baa3
|
| S&P: BBB-
|
| Price talk: | Low 5% area
|
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