By Marisa Wong and Cristal Cody
Los Angeles, March 12 – InRetail Consumer priced $600 million of 3¼% notes due March 22, 2028 (Baa3/BB+), according to a market source.
The notes were priced with a spread of 205.7 basis points over Treasuries.
Initial price talk was in the mid to high 3% area.
Credit Suisse, J.P. Morgan (Logistics) and Santander are bookrunners for the Rule 144A and Regulation S notes.
InRetail Pharma, a subsidiary of the company, started a concurrent tender offer and consent solicitation for its 5 3/8% notes due 2023.
InRetail is an owner and operator of food retail and pharmacy chains in Peru.
| Issuer: | InRetail Consumer
|
| Issue: | Notes
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| Amount: | $600 million
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| Maturity: | March 22, 2028
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| Bookrunners: | Credit Suisse, J.P. Morgan (Logistics) and Santander
|
| Coupon: | 3¼%
|
| Spread: | 205.7 bps over Treasuries
|
| Initial price talk: | Mid to high 3% area
|
| Ratings: | Moody’s: Baa3
|
| S&P: BB+
|
| Distribution: | Rule 144A and Regulation S
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