By Reshmi Basu
New York, May 22 - IRPC PCL sold a $250 million offering of 10-year bonds (Baa3/BBB-) at 99.323 to yield mid-swaps plus 113 basis points, according to a market source.
The deal came tighter than guidance, which was set at 115 to 120 bps over mid-swaps.
Barclays Capital and Citigroup were joint bookrunners for the Regulation S transaction.
Bangkok-based IRPC, formerly known as Thai Petrochemical Industry, is a petrochemical producer.
| Issuer: | IRPC PCL
|
| Amount: | $250 million
|
| Issue: | Bonds
|
| Maturity: | May 25, 2017
|
| Coupon: | 6 3/8%
|
| Issue price: | 99.323
|
| Spread: | 113 basis points more than mid-swaps
|
| Lead managers: | Barclays Capital, Citigroup
|
| Pricing date: | May 21
|
| Settlement date: | May 25
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Distribution: | Regulation S
|
| Price guidance: | 115 to 120 bps more than mid-swaps
|
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