By Christine Van Dusen
Atlanta, Nov. 8 - Chile-based Latam Airlines Group SA priced $450 million seven-year notes (expected ratings: /BBB-/BB+) at par to yield 6%, a market source said.
The notes were talked at a yield in the 6¼% area.
BofA Merrill Lynch and Citigroup are the bookrunners for the deal.
The notes were issued by Guanay Finance Ltd., a special purpose vehicle.
Latam Airlines is based in Santiago.
| Issuer: | Guanay Finance Ltd.
|
| Amount: | $450 million
|
| Maturity: | Dec. 15, 2020
|
| Description: | Senior notes
|
| Bookrunners: | BofA Merrill Lynch, Citigroup
|
| Coupon: | 6%
|
| Price: | Par
|
| Yield: | 6%
|
| Trade date: | Nov. 8
|
| Settlement date: | Nov. 15
|
| Expected ratings: | Standard & Poor's: BBB-
|
| Fitch: BB+
|
| Price talk: | 6¼% area
|
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