By Christine Van Dusen
Atlanta, July 1 – Brazil’s Odebrecht Oil & Gas priced a $150 million tap of its 7% perpetual notes at 103 on Tuesday, a market source said.
Morgan Stanley, BB Securities and Bradesco BBI were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to prepay corporate loans.
The original issue of $400 million notes priced at par.
The notes were issued by Odebrecht Oil & Gas Finance Ltd. and guaranteed by Odebrecht Oil & Gas.
Odebrecht is an engineering, construction, chemical and petrochemical conglomerate based in Salvador da Bahia, Brazil.
| Issuer: | Odebrecht Oil & Gas Finance Ltd.
|
| Guarantor: | Odebrecht Oil & Gas
|
| Amount: | $150 million
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | Morgan Stanley, BB Securities, Bradesco BBI
|
| Global coordinators: | HSBC, Itau BBA, Santander
|
| Coupon: | 7%
|
| Price: | 103
|
| Trade date: | July 1
|
| Rating: | Standard & Poor’s: 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.
