By Christine Van Dusen
Atlanta, Sept. 10 – Estonia’s Eesti Energia AS sold €500 million eight-year notes (Baa2/BBB) at par to yield 2.384%, or mid-swaps plus 160 basis points, on Thursday, a market source said.
The pricing matched talk, set in the 160 bps area.
Deutsche Bank, Barclays, Nordea Bank Danmark and Swedbank were the bookrunners for the Regulation S deal.
The notes are part of a tender offer, wherein holders of the company’s €400 million 4¼% notes due 2018 and €300 million 4½% notes due 2020 can tender the notes for cash.
The issuer is a utility based in Tallinn.
| Issuer: | Eesti Energia AS
|
| Amount: | €500 million
|
| Maturity: | Sept. 22, 2023
|
| Description: | Senior notes
|
| Bookrunners: | Barclays, Deutsche Bank, Nordea
|
| Coupon: | 2.384%
|
| Price: | Par
|
| Yield: | 2.384%
|
| Spread: | Mid-swaps plus 160 bps
|
| Trade date: | Sept. 10
|
| Settlement date: | Sept. 22
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 160 bps area
|
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