Fermaca rides strong demand but price tightening frustrates

Fermaca rides strong demand but price tightening frustrates

Bonds

Fermaca priced a $550m 24-year senior secured bond at par to yield 6.375% on Thursday, becoming the second Latin American pipeline company to tap the market this week amid strong interest from investors. Order books were heard to end up at around $4.5bn as investors scrambled for the Baa2/BBB-/BBB- rated paper. The transaction, which has a 15 year average life, was tightened from initial price thoughts of 7% area, and lead managers Citi and Deutsche Bank increased the size of the deal from the $

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial