By Christine Van Dusen
Atlanta, July 29 - Brazil's Odebrecht Offshore Drilling Finance Ltd. priced a $1.69 billion issue of 6¾% notes due Oct. 1, 2022 (Baa3/BBB/BBB) at 99.994, a market source said.
HSBC, Itau BBA, Morgan Stanley, BB Securities, BNP Paribas and Santander were the bookrunners for the Rule 144A and Regulation S deal.
The notes include a change-of-control put at 101%.
The proceeds will be used to pay existing project finance obligations, project costs and general corporate purposes.
Odebrecht is an engineering, construction, chemical and petrochemical conglomerate based in Salvador da Bahia, Brazil.
| Issuer: | Odebrecht Offshore Drilling Finance Ltd.
|
| Amount: | $1.69 billion
|
| Maturity: | Oct. 1, 2022
|
| Description: | Notes
|
| Bookrunners: | HSBC, Itau BBA, Morgan Stanley, BB Securities, BNP Paribas, Santander
|
| Coupon: | 6¾%
|
| Price: | 99.994
|
| Change of control put: | At 101%
|
| Trade date: | July 26
|
| Settlement date: | Aug. 1
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
