January 1, 2011
The Grupo México unit operating in Peru was able to bring the yield significantly in from early price talk amid nearly $9 billion in orders.
The scarce Baa2/BBB/BBB minus miner priced $400 million in 2020 bonds at 99.481 with a 5.375% coupon to yield 5.443%, or UST plus 162.5 basis points, well through 175.0-187.5 basis points talk, which was tightened to 162.5-175.0. It was bid at 106.209 (180 basis points) mid-November, according to Credit Suisse, a joint lead with Goldman Sachs and Morgan Stanley.
A $1.1 billion 2040 tranche came at 99.250 with a 6.750% coupon to yield 6.809%, or UST plus 212.5 basis points, the tight end of 212.5-225.0 guidance. The 10-year bonds tightened fur
Southern Copper Corporation (SCC) saw jumbo demand for a $1.5 billion April 2010 issue of new 10 and 30-year bonds, which were tightly priced but still traded up.