Chicago, April 27 – Iochpe-Maxion SA sold $400 million of 5% guaranteed sustainability-linked notes (Ba3/BB-/BB-) due 2028 on Tuesday, according to a company notice.
The notes were issued through subsidiaries Iochpe-Maxion Austria GmbH and Maxion Wheels de Mexico, S de RL de CV and the parent will guarantee them.
Proceeds will be used to extend the company’s debt profile with the repayment of certain outstanding debt of the company and of certain of its subsidiaries.
The issuer manufactures automotive wheels and is one of the leading producers of automotive structural components in the Americas. The company is based in Sao Paolo.
| Issuers: | Iochpe-Maxion Austria GmbH and Maxion Wheels de Mexico, S de RL de CV
|
| Guarantor: | Iochpe-Maxion SA
|
| Issue: | Guaranteed sustainability-linked notes
|
| Amount: | $400 million
|
| Maturity: | 2028
|
| Coupon: | 5%
|
| Trade date: | April 27
|
| Settlement date: | May 7
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Fitch: BB-
|
| Distribution: | Regulation S
|
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