Published on 12/9/2003 in the Prospect News High Yield Daily.
New Issue: Embratel prices $75 million add-on at 100.75, to yield 10.797%
By Paul A. Harris
St. Louis, Dec. 9 - Embratel (Empresa Brasileira de Telecomunicacoes) priced a $75 million add-on to its 11% senior notes due Dec. 15, 2008 at 100.75 on Tuesday to yield 10.797%, according to market sources.
Deutsche Bank Securities and Morgan Stanley were the underwriters.
Embratel will use proceeds to refinance debt and to extend maturities.
The issuer is Sao Paulo, Brazil-based telecommunications company.
| Issuer: | Embratel (Empresa Brasileira de Telecomunicacoes)
|
| Amount: | $75 million
|
| Security description: | Add-on to 11% senior notes due Dec. 15, 2008
|
| Bookrunner: | Deutsche Bank Securities, Morgan Stanley
|
| Maturity: | Dec. 15, 2008
|
| Coupon: | 11%
|
| Price: | 100.75
|
| Yield: | 10.797%
|
| Call: | Non-callable
|
| Settlement date: | Dec. 16 (T+5)
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
