May 7, 2021 |
Sagicor Financial raised $400 million to buy back its 2022 notes on Thursday, issuing seven-year non-call three bonds in a deal that was "significantly oversubscribed," said a source involved in the sale.
The Barbados-based financial institution priced the 2028 bonds at par to yield 5.3% after it had set initial price talk in the high-5% area and put guidance in the range of 5.3% to 5.4%, the source said.
JPMorgan, RBC, JMMB and Sagicor were the bookrunners on the deal, according to the source.
Barbados-based financial company sells $400 mln in new seven-year notes to repurchase its 2022s