By Christine Van Dusen
Atlanta, Nov. 21 – Mexico’s Gruma SA de CV priced $400 million 4 7/8% 10-year notes (-/BB+/BBB-) at 99.899 to yield Treasuries plus 255 basis points on Friday, a market source said.
Goldman Sachs and Santander were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds from the new issue will be used to redeem the company’s perpetual bonds and to pay debt.
Gruma, based in Monterrey, Mexico, is involved in the production, marketing, distribution and sale of corn flour, packaged tortillas and wheat flour.
| Issuer: | Gruma SA de CV
|
| Amount: | $400 million
|
| Maturity: | Dec. 1, 2024
|
| Description: | Notes
|
| Bookrunners: | Goldman Sachs, Santander
|
| Coupon: | 4 7/8%
|
| Price: | 99.899
|
| Spread: | Treasuries plus 255 bps
|
| Trade date: | Nov. 21
|
| Settlement date: | Dec. 5
|
| Ratings: | Standard & Poor’s: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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