By Paul A. Harris
Portland, Ore., Sept. 9 – Brazilian food processor Minerva SA priced $1 billion of 6½% 10-year bonds (BB-) at 99.096 to yield 6 5/8% on Thursday, according to a portfolio manager.
The deal was trading softer heading into Friday afternoon at 99.05 bid, 99.35 offered, the manager said.
Joint bookrunner HSBC will bill and deliver. Banco Bradesco, BofA Merrill Lynch, Banco Itau and JPMorgan were also joint bookrunners.
The issuing entity was Minerva Luxembourg SA.
The Sao Paulo-based company plans to use the proceeds to fund a tender offer for its 7¾% senior notes due 2023 and for general corporate purposes.
| Issuer: | Minerva Luxembourg SA
|
| Amount: | $1 billion
|
| Maturity: | Sept. 20, 2026
|
| Securities: | Bonds
|
| Bookrunners: | HSBC (bill and deliver), Banco Bradesco, BofA Merrill Lynch, Banco Itau, JPMorgan
|
| Coupon: | 6½%
|
| Price: | 99.096
|
| Yield: | 6 5/8%
|
| Call protection: | Five years
|
| Trade date: | Sept. 8
|
| Rating: | S&P: BB-
|
|
|
|
|
© 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.
