By Reshmi Basu
New York, Jan. 26 - Power generator Mirant Trinidad Investments of Trinidad & Tobago (Baa2/A-) priced a $100 million offering of 10-year bullet bonds at par to yield 7.017%, or 250 basis points more than Treasuries, according to a market source.
The deal priced at the tight end of price guidance, which was set at 250 to 275 bps over Treasuries.
Credit Suisse was the bookrunner for the Rule 144A and Regulation S transaction.
Proceeds will be used to repay debt and to fund the expansion of an existing facility.
| Issuer: | Mirant Trinidad Investments of Trinidad & Tobago
|
| Amount: | $100 million
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| Issue: | Bullet bonds
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| Maturity: | Feb. 1, 2016
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| Coupon: | 7.017%
|
| Issue price: | Par
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| Yield: | 7.017%
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| Spread: | 250 basis points more than Treasuries
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 30
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| Bookrunner: | Credit Suisse
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
| Price guidance: | 250 to 275 basis points more than Treasuries
|
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