By Christine Van Dusen
Atlanta, March 9 – Buenos Aires priced $1.25 billion of 9 1/8% eight-year amortizing notes (Caa2/B-) at 98.741 to yield 9 3/8% on Wednesday, a syndicate source said.
The notes were talked at a yield in the mid-to-high-9% area.
The notes will have an average life of seven years and have three equal amortizations in 2022, 2023 and 2024.
Citigroup, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for funding social, infrastructure and other public investment projects, as well as for debt refinancing.
| Issuer: | Buenos Aires
|
| Amount: | $1.25 billion
|
| Maturity: | March 16, 2024
|
| Description: | Amortizing senior bonds
|
| Bookrunners: | Citigroup, HSBC, JPMorgan
|
| Coupon: | 9 1/8%
|
| Price: | 98.741
|
| Yield: | 9 3/8%
|
| Trade date: | March 9
|
| Settlement date: | March 16
|
| Ratings: | Moody's: Caa2
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid-to-high-9% area
|
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