By Aaron Hochman-Zimmerman
New York, Oct. 12 - Industrias Metalúrgicas Pescarmona SAIC&F priced $225 million seven-year amortizing senior unsecured notes (/B/B) at 99.011 with a coupon of 11¼% to yield 11½%, according to a market source.
The deal, which was downsized by $25 million, came wide of its guidance of 11¼%.
Merrill Lynch acted as the bookrunner for the Rule 144A and Regulation S deal.
The bonds carry four years of call protection.
Impsa is a Mendoza, Argentina-based wind and hydropower producer.
| Issuer: | Industrias Metalúrgicas Pescarmona SAIC&F
|
| Amount: | $225 million
|
| Issue: | Seven-year amortizing notes
|
| Maturity: | 2014
|
| Coupon: | 11¼%
|
| Price: | 99.011
|
| Yield: | 11½%
|
| Call: | After four years
|
| Bookrunner: | Merrill Lynch
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 19
|
| Distribution: | Rule 144A/Regulation S
|
| Rating: | Standard & Poor's: B
|
| Fitch: B
|
| Price talk: | 11¼%
|
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