By Christine Van Dusen
Atlanta, Oct. 8 – Peru’s InRetail Consumer priced $300 million 5¼% notes due Oct. 10, 2021 (expected ratings: Ba1/BB+/) at 99.279 to yield 5 3/8% on Tuesday, a market source said.
Citigroup and Credit Suisse were the bookrunners for the Rule 144A and Regulation S notes.
The proceeds will be used to fund a buyback of the company’s 8 7/8% notes due in 2018.
The tender offer for all $300 million of the outstanding senior notes began earlier this month.
InRetail expects to settle purchases of notes tendered by the early deadline on Oct. 10.
InRetail Consumer is the pharmacy and supermarket division of Intercorp Peru, a conglomerate based in Lima.
| Issuer: | InRetail Consumer
|
| Amount: | $300 million
|
| Maturity: | Oct. 10, 2021
|
| Description: | Notes
|
| Bookrunners: | Citigroup, Credit Suisse
|
| Coupon: | 5¼%
|
| Price: | 99.279
|
| Yield: | 5 3/8%
|
| Call features: | Non-callable for four years
|
| Trade date: | Oct. 7
|
| Settlement date: | Oct. 10
|
| Expected ratings: | Moody’s: Ba1
|
| Standard & Poor’s: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | High-5% area
|
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