Published on 10/2/2013 in the Prospect News Emerging Markets Daily.
New Issue: Philippines' First Gen prices $250 million 6½% 10-year notes at par
By Christine Van Dusen
Atlanta, Oct. 2 - First Gen Corp. priced $250 million of 10-year notes at par to yield 6½%, or Treasuries plus 389.5 basis points, a market source said.
The notes were talked at a yield in the 6 5/8% area.
Deutsche Bank, HSBC and JPMorgan were the bookrunners for the Regulation S deal.
First Gen is a Pasig, Philippines-based power generation company.
| Issuer: | First Gen Corp.
|
| Amount: | $250 million
|
| Maturity: | Oct. 9, 2023
|
| Description: | Notes
|
| Bookrunners: | Deutsche Bank, HSBC, JPMorgan
|
| Coupon: | 6½%
|
| Price: | Par
|
| Yield: | 6½%
|
| Spread: | Treasuries plus 389.5 bps
|
| Trade date: | Oct. 2
|
| Settlement date: | Oct. 9
|
| Distribution: | Regulation S
|
| Price talk: | 6 5/8% area
|
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