By Paul A. Harris
Portland, Ore., Jan. 25 - Spanish conglomerate Abengoa Finance SAU priced a €250 million issue of five-year notes (B1/B+/) at par to yield 8 7/8% on Friday, according to a syndicate source.
The yield priced at the tight end of the 8 7/8% to 9% yield talk.
HSBC, Credit Suisse, Bank of America Merrill Lynch, Bankia, Banco Santander and SG CIB were the joint bookrunners.
The Seville, Spain-based company plans to use the proceeds to refinance debt.
Abengoa has interests in the energy, telecommunications, logistics and environmental sectors.
| Issuer: | Abengoa Finance SAU
|
| Amount: | €250 million
|
| Maturity: | Feb. 5, 2018
|
| Securities: | Unsecured notes
|
| Bookrunners: | HSBC, Credit Suisse, Bank of America Merrill Lynch, Bankia, Banco Santander, SG CIB
|
| Coupon: | 8 7/8%
|
| Price: | Par
|
| Yield: | 8 7/8%
|
| Spread: | 818 bps
|
| Call protection: | Non-callable
|
| Trade date: | Jan. 25
|
| Settlement date: | Feb. 5
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Price talk: | 8 7/8% to 9%
|
| Marketing: | Roadshow
|
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