By Aaron Hochman-Zimmerman
New York, May 8 - Independencia International Ltd. (B2/B) priced $300 million of seven-year 9 7/8% senior unsecured bonds at 98.768 to yield 10 1/8%, according to a market source.
The deal came at the rich end of talk for a yield in the 10¼% area.
Banco Santander acted as the bookrunner for the Rule 144A and Regulation S deal.
Proceeds will be used to refinance existing debt.
Independencia is a Jordanesia, Brazil-based and Cayman incorporated beef producer.
| Issuer: | Independencia International Ltd.
|
| Amount: | $300 million
|
| Issue: | Senior unsecured bonds
|
| Maturity: | May 15, 2015
|
| Coupon: | 9 7/8%
|
| Price: | 98.768
|
| Yield: | 10 1/8%
|
| Bookrunner: | Banco Santander
|
| Pricing date: | May 8
|
| Settlement date: | May 15
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: B
|
| Price talk: | 10¼%
|
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