By Rebecca Melvin
New York, April 26 – Light Servicos de Eletricidade SA and Light Energia SA priced $600 million 7¼% five-year notes (expected ratings: B1//BB-) at 99.485 to yield 7.51%, according to a market source on Thursday.
The notes are guaranteed by holding company Light SA.
BB Securities, Banco Bradesco, Citigroup, Santander and Itau Unibanco are the joint bookrunners of the Rule 144A and Regulation S notes.
The proceeds of the deal are earmarked to finance upcoming debt maturities.
Rio de Janeiro-based Light is an electric utility.
| Issuers: | Light Servicos de Eletricidade SA and Light Energia SA
|
| Guarantor: | Light SA
|
| Issue: | Notes
|
| Amount: | $600 million
|
| Maturity: | May 3, 2023
|
| Bookrunners: | BB Securities, Banco Bradesco, Citigroup, Santander and Itau Unibanco
|
| Coupon: | 7¼%
|
| Price: | 99.485
|
| Yield: | 7.51%
|
| Pricing date: | April 25
|
| Settlement date: | May 3
|
| Ratings: | Moody’s: B1
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
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