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Citgo to sell $650 million secured notes due July 2026 on Wednesday
By Paul A. Harris
Portland, Ore., Feb. 3 – Citgo Petroleum Corp. plans to price a $650 million offering of senior secured notes due July 15, 2026 (existing ratings B3/B+/BB) in a Wednesday drive-by trailing a morning conference call with investors, according to a market source.
Joint bookrunner Barclays will bill and deliver. J.P. Morgan Securities LLC is also a joint bookrunner.
The Rule 144A and Regulation S for life notes come with two years of call protection.
The Houston-based refiner plans to use the proceeds to redeem its 6¼% secured notes due 2022.
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