MODEC lines up project bond

MODEC lines up project bond

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Energy Gas Brazil Japan Asia

Japan's MODEC is preparing to issue up to $1bn in 15-year project bonds to refinance debt from a floating production storage and offloading (FPSO) unit in Brazil, LatinFinance has heard. The global coordinator Citi and the joint bookrunners Mizuho, Morgan Stanley and SMBC have taken MODEC to meet investors in London, New York, Boston and on the US West Coast over the past two weeks, and the bonds are expected to price next week, said a source close to the deal. MODEC will use the money to pay of

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