By Christine Van Dusen
Atlanta, Jan. 11 - Peru-focused Corporacion Pesquera Inca SAC (Copeinca) priced a $75 million reopening of its existing 9% notes due Feb. 10, 2017 (B2/B+/B+) at 107 to yield 6.989%, a market source said.
BTG Pactual and Santander were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to refinance debt, for capital expenditures and for general corporate purposes.
The notes include an equity clawback of 35% until Feb. 10 and a change-of-control put at 101%.
The outstanding size is $175 million.
Copeinca is a producer of fishmeal and fish oil harvested off the coast of Peru.
| Issuer: | Corporacion Pesquera Inca SAC (Copeinca)
|
| Amount: | $75 million
|
| Maturity: | Feb. 10, 2017
|
| Description: | Senior notes
|
| Bookrunners: | BTG Pactual, Santander
|
| Coupon: | 9%
|
| Price: | 107
|
| Yield: | 6.989%
|
| Trade date: | Jan. 10
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 106.5 area
|
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