June 3, 2019 |
US investor BlackRock has sold $225m in bonds to refinance a loan for the 130 MW La Bufa wind farm in Mexico, LatinFinance has heard.
The bookrunner MUFG Securities Americas marketed the private placement to several insurance companies and priced the 18-year notes at 5.77%, said a source close to the deal. The Japanese bank's lending division added a letter of credit for $19.4m, the source said.
BlackRock will use the money to pay off $215m in debt from La Bufa, which began operations in 2017.
US investor issues $225m in bonds to pay off a loan for La Bufa in Zacatecas