Chicago, April 27 – CAP SA sold $300 million of 3.9% notes due April 27, 2031 (BB+/BBB-), according to a company notice.
The bonds came below talk which expected them in the 4 3/8% area, a market source noted. The notes priced with a spread of Treasuries plus 235 basis points.
The Rule 144A and Regulation S notes were said to be oversubscribed.
BofA Securities and JPMorgan are the bookrunners.
Proceeds will be used to repay financial liabilities maturing during 2021 and for general corporate purposes.
CAP is a Santiago, Chile-based mining and steel holding company.
| Issuer: | CAP SA
|
| Issue: | Notes
|
| Amount: | $300 million
|
| Maturity: | April 27, 2031
|
| Bookrunners: | BofA Securities and JPMorgan
|
| Coupon: | 3.9%
|
| Spread: | Treasuries plus 235 bps
|
| Trade date: | April 22
|
| Ratings: | S&P: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 4 3/8% area
|
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