By Reshmi Basu
New York, May 2 - Petrobras Energia SA sold a $300 million offering of 10-year series S notes (Baa2/BBB-) at 99.617 with a 5 7/8% coupon to yield 5.926%, according to a statement filed with the Securities and Exchange Commission.
The deal also has a make-whole call option and a change-of-control put option at 101.
Proceeds from the sale will be used for working capital, for investment in fixed assets, for refinancing debt and to offer capital to associated companies.
HSBC and Morgan Stanley were lead managers for the deal.
The Buenos Aires-based issuer is a subsidiary of the Brazilian state-run oil company Petroleo Brasileiro SA.
Petrobras is backing the deal with a standby purchase agreement.
| Issuer: | Petrobras Energia SA
|
| Amount: | $300 million
|
| Issue: | Series S notes
|
| Maturity: | 2017
|
| Coupon: | 5 7/8%
|
| Issue price: | 99.617
|
| Yield: | 5.926%
|
| Call option: | Make-whole call option
|
| Put option: | Change-of-control put at 101
|
| Lead managers: | HSBC, Morgan Stanley
|
| Pricing date: | May 2
|
| Settlement date: | May 7
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
|
|
© 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.
