August 2, 2019 |
MV24 Capital has issued $1.1bn in 15-year project bonds to yield 6.75%, shaving 25bp off the initial price talk around 7% on strong demand, LatinFinance has heard.
Citi was the global coordinator on the deal with Mizuho, Morgan Stanley and SMBC as the other joint bookrunners.
The new notes priced around 200bp above the 2028 notes from Brazil's state-owned energy company Petrobras, which were seen trading between 4.7% and 4.75% on Thursday, said a source close to the deal.
MV24 will use the money
Brazilian FPSO issues 15-year notes at 6.75% to refinance a $1bn loan from 2012