September 12, 2019 |
Mexico's Alpek sold $500m in new cross-border bonds on Wednesday, reeling in the spread by 32bp as investors signed on to the petrochemical company's growth story, a banker on the deal told LatinFinance.
The bookrunners Citi, JPMorgan and HSBC put the initial price talk at 287bp over US Treasury notes, but they printed the new notes at 255bp after taking orders, the banker said. The 10-year bonds with a 4.25% coupon priced at 99.718% to yield 4.285%, he said.
Bond buyers "like Alpek's investment
Mexican petchem company sells $500m in 10-year bonds to yield 4.285%