By Cristal Cody
Chicago, Oct. 26 – Minsur SA sold $500 million of 4½% senior notes with a 10-year tenor (BB+/BBB-) on Monday, a market source noted.
The yield on the split-rated notes was 4¾%. Initial price talked expected in the low 5% area.
BofA Securities Inc. and Santander led the Rule 144A and Regulation S sale.
Proceeds will be used to fund the tender offer for the company’s $186.42 million outstanding 6¼% notes due 2024. Remaining proceeds will be used for general corporate purposes.
Minsur is a mining company based in Lima.
| Issuer: | Minsur SA
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| Issue: | Senior notes
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| Amount: | $500 million
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| Maturity: | Oct. 28, 2031
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| Bookrunners: | BofA Securities Inc. and Santander
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| Coupon: | 4½%
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| Yield: | 4¾%
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| Trade date: | Oct. 26
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| Settlement date: | Oct. 28
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| Ratings: | S&P: BB+
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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| ISINs: | US60447KAB61, USP6811TAB19
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| Price talk: | Low 5% area
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