By Rebecca Melvin
New York, Nov. 2 – Inkia Energy Ltd. priced $450 million of 10-year notes (expected ratings: BB-/BB) at par to yield 5 7/8% on Thursday, according to a market source.
Pricing was guided to a yield in the 5 7/8% area after initial talk at low 6%.
The notes are non-callable for five years.
Citigroup, Scotia and Credit Suisse were the bookrunners for the Rule 144A and Regulation S notes.
Proceeds will be used to repurchase the company’s callable $450 million outstanding notes due 2021.
Based in Lima, Peru, Inkia operates and develops power generation facilities in Latin America and the Caribbean.
| Issuer: | Inkia Energy Ltd.
|
| Issue: | Notes
|
| Amount: | $450 million
|
| Maturity: | Nov. 9, 2027
|
| Bookrunners: | Citibank, Scotia and Credit Suisse
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Call feature: | Non-callable for five years
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 9
|
| Expected ratings: | S&P: BB-
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Guided to 5 7/8% area from low 6%
|
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