Colombia-focused Pacific Rubiales plans up to $300 million tap of 7¼% notes; pricing Monday

By Paul A. Harris

Portland, Ore., Nov. 25 - Colombia-focused Pacific Rubiales Energy Corp. is guiding an add-on to its 7¼% notes due Dec. 12, 2021 (expected ratings Ba2/BB+/BB+) in the 105 area, according to a market source.

The Toronto-based company intends to size the deal at up to $300 million.

Joint bookrunner and joint lead manager BofA Merrill Lynch is the global coordinator and will bill and deliver for the Rule 144A and Regulation S for life add-on.

Citigroup Global Markets, HSBC, Itau and BBA are also joint bookrunners and joint lead managers.

BBVA and GMP are also joint lead managers.

The oil and gas exploration and production company plans to use the proceeds for general corporate purposes.

The current size of the issue is $712.2 million.

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