By Rebecca Melvin
New York, Dec. 11 – Inkia Energy Ltd. priced a $150 million add-on to its 5 7/8% senior notes (expected rating: /BB/) due November 2027 on Monday at par, according to a market source.
Credit Suisse and Deutsche Bank were joint bookrunners of the issue.
The original $450 million of notes priced on Nov. 9. Inkia, is a wholly owned subsidiary of Singapore-based Kenon Holdings Ltd.
Proceeds of the deal are earmarked for financing of the 1 Squared Capital acquisition of Inkia.
The power generation company plans to use the proceeds to redeem its notes maturing in 2021.
| Issuer: | Inkia Energy Ltd.
|
| Amount: | $150 million add-on
|
| Maturity: | November 2027
|
| Securities: | Senior notes
|
| Bookrunners: | Credit Suisse and Deutsche Bank
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Announcement date: | Nov. 9
|
| Placement: | Non-registered
|
| Total issue size: | $600 million, including $450 million priced on Nov. 9
|
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