By Reshmi Basu
New York, Aug. 9 - Vitro Envases de Norteamerica (Vena) sold $110 million of 12-month 10% senior secured guaranteed notes at 99.768 to yield 10.25%, according to a market source.
The deal was 40% oversubscribed, according to a press release issued by Vena's parent company, Vitro SA.
Proceeds will be used to prepay a $105 million loan agreement with Credit Suisse.
BCP Securities, LLC was the bookrunner for the transaction.
The Nuevo Leon, Mexico-based issuer is a glass manufacturer.
| Issuer: | Vitro Envases de Norteamerica
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| Amount: | $110 million
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| Issue: | Senior secured guaranteed notes
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| Maturity: | Aug. 9, 2007
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| Coupon: | 10%
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| Issue price: | 99.768
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| Yield: | 10.25%
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| Call option: | Callable on Nov. 9, 2006 at 100.32
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| Bookrunner: | BCP Securities, LLC
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| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 9
|
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