By Reshmi Basu
New York, May 3 - Desarrolladora Metropolitana SA de CV sold a $200 million debut offering of 10-year senior notes (B2) at par to yield 10 7/8%, according to a market source.
The deal came within guidance, which was set at 10½% to 11%.
The notes will be callable on May 9, 2012 at par.
Dresdner Kleinwort was the bookrunner for the Rule 144A and Regulation S transaction.
The Mexico City-based issuer is involved in home building and construction.
| Issuer: | Desarrolladora Metropolitana SA de CV
|
| Amount: | $200 million
|
| Issue: | Senior notes
|
| Maturity: | May 9, 2017
|
| Coupon: | 10 7/8%
|
| Issue price: | Par
|
| Yield: | 10 7/8%
|
| Call option: | Callable on May 9, 2012 at par
|
| Bookrunner: | Dresdner Kleinwort
|
| Pricing date: | May 3
|
| Settlement date: | May 9
|
| Distribution: | Rule 144A and Regulation S
|
| Rating: | Moody's: B2
|
| Guidance: | 10½% to 11%
|
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