By Marisa Wong
Madison, Wis., Dec. 3 - Industrias Metalurgicas Pescarmona SAIC y F (Impsa) priced a total of about 45.51 million Argentine pesos of class IV peso-denominated notes and class V dollar-denominated notes under its $500 million global debt securities program on Nov. 26, according to a news release.
The company will issue ARS 41,103,837 of class IV notes due Sept. 7, 2012 and $1,104,900 of class V notes due Dec. 7, 2012. The exchange rate at pricing was 3.9845 pesos per dollar.
The class IV notes were priced with a cutoff spread of 400 basis points, and the class V notes were priced with a cutoff rate of 7% per year.
Interest is payable beginning March 7, 2011.
The principal of both classes of notes will be repaid in installments on March 7, June 7 and Sept. 7 of 2012.
The notes will settle on Dec. 7.
Impsa is a Mendoza, Argentina-based producer of wind and hydropower equipment.
| Issuer: | Industrias Metalurgicas Pescarmona SAIC y F
|
| Issue: | Argentine peso-denominated notes, dollar-denominated notes
|
| Pricing date: | Nov. 26
|
| Settlement date: | Dec. 7
|
|
|
| Class IV notes
|
| Amount: | ARS 41,103,837
|
| Maturity: | Sept. 7, 2012
|
| Spread: | 400 bps
|
|
|
| Class V notes
|
| Amount: | $1,104,900
|
| Maturity: | Dec. 7, 2012
|
| Cutoff rate: | 7%
|
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