Published on 11/9/2018 in the Prospect News Emerging Markets Daily.
New Issue: Promerica prices $200 million 9.7% notes due 2024 to yield 10%
By Rebecca Melvin
New York, Nov. 9 – Promerica Financial Corp. priced $200 million of 9.7% notes due 2024 on Thursday, according to market sources.
The notes priced at 98.754 to yield 10%, which was in line with initial price talk.
BofA Merrill Lynch and Credit Suisse are joint bookrunners of the Panama-based banking group’s Rule 144A and Regulation S notes.
| Issuer: | Promerica Financial Corp.
|
| Issue: | Notes
|
| Amount: | $200 million
|
| Maturity: | May 15, 2024
|
| Bookrunners: | BofA Merrill Lynch and Credit Suisse
|
| Coupon: | 9.7%
|
| Price: | 98.754
|
| Yield: | 10%
|
| Trade date: | Nov. 8
|
| Rating: | S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
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