Finance & Investing | Debt | Capital Markets
Pacific Rubiales Offers Bonds to Finance Petrominerales Acquisition
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Pacific Rubiales Energy Corp. has successfully closed an offering of U.S.$1.3 billion in senior unsecured notes at a rate of 5.375% due 2019.
The net proceeds from the sale of the Notes will be used by the Company to finance the previously announced acquisition of Petrominerales Ltd. and for general corporate purposes. The Notes have been assigned ratings of BB+ by Fitch Ratings and Standard & Poor's Corporation, and Ba2 by Moody's Investors Services. The Notes were placed through a syndicate of underwriters, including Merrill Lynch, Pierce, Fenner & Smith Incorporated (acting as Global Coordinator); Citigroup Global Markets Inc.; HSBC and Itau BBA USA Securities, Inc., as Joint Lead Managers and Bookrunners. The Notes were placed with Qualified Institutional Buyers in the United States…
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