By Reshmi Basu
New York, Sept. 14 - Compania de Acero del Pacifico (CAP) sold $200 million of 30-year bullet notes (/BBB-/BBB-) at 99.71 to yield Treasuries plus 250 basis points, according to a market source.
Proceeds from the sale will be used for general corporate purposes and for capital expenditures.
Citigroup and HSBC were joint bookrunners for the Rule 144A and Regulation S transaction.
The issuer is a Chilean state-owned corporation that also operates the nation's largest iron mines.
| Issuer: | Compania de Acero del Pacifico (CAP)
|
| Amount: | $200 million
|
| Issue: | Senior unsecured guaranteed notes
|
| Maturity: | Sept. 15, 2036
|
| Coupon: | 7 3/8%
|
| Issue price: | 99.71
|
| Spread: | Treasuries plus 250 basis points
|
| Pricing date: | Sept. 13
|
| Settlement date: | Sept. 18
|
| Bookrunners: | Citigroup, HSBC
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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