September 13, 2017 |
San Miguel took advantage of high demand on Tuesday to print $300m in new five-year notes with a yield below 5%, sources told LatinFinance.
The bookrunners Bank of America Merrill Lynch, Citi and JPMorgan started the initial price talk in the low 5% area but lowered it to 4.625% at guidance as the order books swelled to more than $3bn. The leads priced the deal at par to yield 4.5%, sources said. The bonds have a three-year non-call period.
"It looked appealing at the initial pricing in the lo
Peruvian plastics company prices $300m in new notes at 4.5% after receiving more than $3bn in orders