By Christine Van Dusen
Atlanta, July 10 – Brazil’s InterCement Brasil SA – through subsidiary Cimpor Financial Operations BV – sold $750 million 5¾% notes due in 2024 (expected ratings: /BB/BB) on Thursday, according to a company filing.
The notes were talked at a yield in the 6% area, a market source said.
Bradesco BBI, BTG Pactual, Citigroup, HSBC and Itau BBA are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to prepay debt and for general corporate purposes.
Other pricing details were not immediately available on Thursday.
The issuer is a Sao Paulo-based cement and concrete company.
| Issuer: | Cimpor Financial Operations BV
|
| Amount: | $750 million
|
| Maturity: | 2024
|
| Description: | Senior notes
|
| Bookrunners: | Bradesco BBI, BTG Pactual, Citigroup, HSBC, Itau BBA
|
| Coupon: | 5¾%
|
| Call features: | Non-callable for five years
|
| Change-of-control put: | At 101%
|
| Trade date: | July 10
|
| Expected ratings: | Standard & Poor’s: BB
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6% area
|
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