Chicago, Sept. 13 – Industrias Penoles, SAB de CV priced $1.1 billion of senior notes (BBB/BBB) in two parts, according to a press release.
Both tranches were for $550 million. The first 10-year tranche came with a coupon of 4.15%. The second 30-year tranche has a 5.65% coupon.
A portion of the proceeds of the Rule 144A and Regulation S issue will be used for liability management purposes. Specifically, $600 million will be used to redeem $400 million of notes due 2020 and $200 million notes due 2022. The rest will be used for general corporate purposes.
Bookrunners on the deal were BofA Securities Inc., Goldman Sachs, JPMorgan, Banco Santander and Scotiabank.
Penoles is a Mexico City-based mining conglomerate.
| Issuer: | Industrias Penoles, SAB de CV
|
| Issuer: | Senior notes
|
| Amount: | $1.1 billion
|
| Bookrunners: | BofA Securities Inc., Goldman Sachs, JPMorgan, Banco Santander and Scotiabank
|
| Pricing date: | Sept. 5
|
| Settlement date: | Sept. 12
|
| Ratings: | S&P: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 10-year notes
|
| Amount: | $550 million
|
| Maturity: | 2029
|
| Coupon: | 4.15%
|
|
|
| 30-year notes
|
| Amount: | $550 million
|
| Maturity: | 2049
|
| Coupon: | 5.65%
|
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