By Christine Van Dusen
Atlanta, Oct. 20 - Brazil's Ceagro Agricola Ltda. priced $100 million 10¾% notes (/B/B-) due May 16, 2016 at 98.965 to yield 11%, a market source said.
Jefferies was the bookrunner for the Rule 144A and Regulation S deal, which was talked to yield in the 11% area.
Proceeds will be used to repay existing debt, for working capital and for general corporate purposes.
Ceagro Agricola is a Sao Paulo-based soft-commodities trading company.
Issuer: | Ceagro Agricola Ltda.
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Amount: | $100 million
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Maturity: | May 16, 2016
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Description: | Senior secured notes
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Bookrunner: | Jefferies
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Coupon: | 10¾%
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Price: | 98.965
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Yield: | 11%
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Trade date: | Oct. 20
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Settlement date: | Oct. 27
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Ratings: | Standard & Poor's: B
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| Fitch: B-
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Distribution: | Rule 144A and Regulation S
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Price talk: | 11% area
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