Mexico's Oro Negro talks $725 million five-year notes at 7½% to 8%

By Christine Van Dusen

Atlanta, Jan. 10 - Oro Negro Drilling Pte. Ltd. (Singapore) set talk at 7½% to 8% for its upcoming $725 million issue of five-year notes, a market source said.

Pareto Securities is the bookrunner for the deal.

The proceeds will be used to refinance all existing bonds in the issuer group and for general corporate purposes.

The notes include a change-of-control put if anyone but the current shareholders hold more than 50% of the shares in the parent.

The issuer is wholly owned by Integradora de Servicios Petroleos Oro Negro SAPI de CV, a developer and promoter of oil projects in Mexico.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.