By Andrea Heisinger
Omaha, Dec. 21 - Popular North America, Inc. priced $275 million in 6.85% five-year senior notes Friday, according to a press release from parent company Popular Inc.
The notes were sold in the Puerto Rico market. They are non-callable.
Bookrunners were Popular Securities and UBS Financial Services Inc. of Puerto Rico.
Proceeds will be used to repay outstanding commercial paper with varying maturities with remaining funds going to repay short-term debt and for general corporate purposes.
Popular is a financial institution with operations in Puerto Rico, the United States, the Caribbean and Latin America. It is based in San Juan, Puerto Rico.
| Issuer: | Popular North America, Inc.
|
| Issue: | Senior notes
|
| Amount: | $275 million
|
| Maturity: | Dec. 21, 2012
|
| Bookrunners: | Popular Securities, UBS Financial Services Inc. of Puerto Rico
|
| Coupon: | 6.85%
|
| Call: | Non-callable
|
| Trade date: | Dec. 21
|
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