By Rebecca Melvin
New York, March 8 – Corporacion Quiport SA priced $400 million of 12% notes due 2033 at par. The amortizing notes have a 10.7-year average life, according to a syndicate source.
Pricing came on top of initial price thoughts, but the deal was larger than the initially talked $350 million minimum size.
International Airport Finance, an affiliate of the Quito Airport, was the issuer of the notes, and Citigroup and Santander were joint bookrunners of the Rule 144A and Regulation S notes.
The proceeds are earmarked for various uses, including debt refinancing.
The airport operator is based in Ecuador.
| Issuer: | International Airport Finance
|
| Issue: | Corporacion Quiport SA
|
| Description: | Notes
|
| Amount: | $400 million
|
| Maturity: | March 15, 2033
|
| Bookrunners: | Citigroup and Santander
|
| Coupon: | 12%
|
| Price: | Par
|
| Yield: | 12%
|
| Trade date: | March 8
|
| Settlement date: | March 15
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 12%
|
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