By Paul A. Harris
St. Louis, Feb. 3 - Hurricane Hydrocarbons upsized to $125 million from $100 million its offering of 9 5/8% senior notes due Feb. 12, 2010 (B1/B+) and priced them Monday at 98.389 to yield 9.95%, according to a syndicate source.
Price talk was for a yield in the 10¼% area.
JP Morgan was the bookrunner for the emerging markets offering. Credit Suisse First Boston, ING Barings and MDM were co-managers.
Proceeds from the Rule 144A bullets will be used for capital expenses and general corporate purposes.
The issuer is a Calgary, Canada-based integrated energy exploration and production company active in Kazakhstan.
| Issuer: | Hurricane Finance BV financing subsidiary of Hurricane Hydrocarbons Ltd.
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| Amount: | $125 million (increased from $100 million)
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| Maturity: | Feb. 12, 2010
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| Description: | Senior notes
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| Bookrunner: | JP Morgan
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| Co-managers: | Credit Suisse First Boston, ING Barings, MDM
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| Coupon: | 9 5/8%
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| Price: | 98.389
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| Yield: | 9.95%
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| Spread: | 633 basis points
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| Call features: | Non-callable
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| Settlement date: | Feb. 12, 2003
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| Ratings: | Moody's: B1
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| Standard & Poor's: B+
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| Price talk: | 10¼% area
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