By Christine Van Dusen
Atlanta, March 29 - Peru's Inkia Energy Ltd. sold $300 million 8 3/8% notes due April 4, 2021 (B1//BB-) at 99.169 to yield Treasuries plus 362.5 basis points, a market source said.
The notes priced in line with talk, which was whispered at the mid- to high-8% area.
Merrill Lynch and Credit Suisse were the bookrunners for the Rule 144A and Regulation S notes, which include a change-of-control put at 101%.
Inkia Energy is a Peru-based subsidiary of Israel Corp.
| Issuer: | Inkia Energy Ltd.
|
| Amount: | $300 million
|
| Maturity: | April 4, 2021
|
| Description: | Notes
|
| Bookrunners: | Merrill Lynch, Credit Suisse
|
| Coupon: | 8 3/8%
|
| Price: | 99.169
|
| Spread: | Treasuries plus 362.5 bps
|
| Change of control put: | At 101%
|
| Trade date: | March 29
|
| Settlement date: | April 4
|
| Ratings: | Moody's: B1
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid- to high-8% area
|
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