Clisa Builds $120m New Bonds

Clisa Builds $120m New Bonds

Argentina Bonds

Clisa has issued $120m in new 2016 bonds, to offer in an exchange for existing 2012 bonds, and to raise additional funds. Holders of $92.70m (92.70%) of the Argentine infrastructure company’s 9.75% of 2012 bonds agreed to exchange for new 2016s, in an offer closed Friday. The remainder of the new 2016s priced at 94.38 with a 9.50% coupon, to yield 11.00%, the wide end of the 10.75%-11.00% guidance. The 2016 bonds amortize in 3 equal installments in years 4, 5 and 6. In an offer launched last mon

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