By Reshmi Basu
New York, Jan. 26 - Argentine real estate developer IRSA Inversiones y Reprentaciones SA placed a $150 million offering of senior unsecured notes (/B+/B) at par to yield 8½%, according to a market source.
The notes will be non-callable for five years.
Citigroup ran the books for the Rule 144A and Regulation S deal. Credit Suisse acted as a joint lead manager.
The issuer is based in Buenos Aires, Argentina.
| Issuer: | IRSA Inversiones y Reprentaciones SA
|
| Amount: | $150 million
|
| Issue: | Senior unsecured notes
|
| Maturity: | Feb. 2, 2017
|
| Coupon: | 8½%
|
| Issue price: | Par
|
| Yield: | 8½%
|
| Spread: | Treasuries plus 363.1 basis points
|
| Call option: | Non-callable for five years
|
| Bookrunner: | Citigroup
|
| Joint lead manager: | Credit Suisse
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 2
|
| Distribution: | Rule 144A/Regulation S
|
| Ratings: | Standard & Poor's: B+
|
| Fitch: B
|
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