March 13, 2018 |
Mastellone Hermanos is after $500m from the cross-border bond market to partially fund a buyback of the $200m it has in outstanding 12.625% 2021s, sources confirmed.
The Argentine dairy foods company will also use proceeds to fund capex requirements.
Mastellone sold the 2021s in June 2014, through Bank of America Merrill Lynch and Deutsche Bank. The bonds are callable on July 7 at 106.3, sources said.
Last month, Fitch Ratings upgraded the company to B from B-, citing solid liquidity and improve
Argentine dairy company mulls $500m trade to pay off its double-digit coupon debt, sources