By Christine Van Dusen
Atlanta, Nov. 8 - Peru's Intercorp Retail Trustee sold a $300 million issue of notes due Nov. 14, 2018 (B1//BB-) at par to yield 8 7/8%, a market source said.
The notes priced in line with talk, which was set at the 8 7/8% area.
Bank of America Merrill Lynch and JPMorgan were the bookrunners for the Rule 144A and Regulation S notes, which are non-callable for four years and include a change-of-control put at 101%.
The proceeds will be used to purchase a participation in a loan agreement and to make senior loans.
The notes are guaranteed by Intercorp Retail, a member of the Lima, Peru-based IFH Peru Ltd. group of companies, which focus on financial and commercial support services.
| Issuer: | Intercorp Retail Trustee
|
| Guarantor: | Intercorp Retail
|
| Amount: | $300 million
|
| Maturity: | Nov. 14, 2018
|
| Description: | Notes
|
| Bookrunners: | Bank of America Merrill Lynch, JPMorgan
|
| Coupon: | 8 7/8%
|
| Price: | Par
|
| Yield: | 8 7/8%
|
| Call feature: | Non-callable for four years
|
| Change-of-control put: | At 101%
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 14
|
| Ratings: | Moody's: B1
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 8 7/8% area
|
© 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.
