By Cristal Cody
Chicago, April 8 – Fondo Mivivienda SA sold $600 million of 4 5/8% notes due 2027 at 99.652 to yield 4.704% (Baa1/BBB), according to a pricing supplement.
The notes priced at a spread of 200 basis points over the benchmark Treasury. Talk had the notes coming in the Treasuries plus 225 basis points area.
Until one month before the maturity date, the notes can be redeemed with a Treasuries plus 30 bps make-whole premium. After March 12, 2027, the notes may be redeemed at par.
Joint bookrunners for the Rule 144A and Regulation S issue are BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC.
Proceeds were used to fund a tender offer.
Mivivienda is a for-profit mortgage financing institution owned by the Republic of Peru and based in Lima.
| Issuer: | Fondo Mivivienda SA
|
| Amount: | $600 million
|
| Issue: | Notes
|
| Maturity: | April 12, 2027
|
| Bookrunners: | BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
|
| Coupon: | 4 5/8%
|
| Price: | 99.652
|
| Yield: | 4.704%
|
| Spread: | Treasuries plus 200 bps
|
| Call features: | Make-whole call at Treasuries plus 30 bps until March 12, 2027; thereafter at par
|
| Change of control: | At 101
|
| Trade date: | April 7
|
| Settlement date: | April 12
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Treasuries plus 225 bps area
|
| Cusips: | 344593AF5, P42009AE3
|
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