25 de mayo de 2016 / 21:57 / hace un año

LATAM CLOSE-One issuer raises US$750m in primary market

* Marfrig upsizes bond after amassing US$2bn in orders

* Brazil defaults hit record in April as lending tightens

* Colombia's UNE EPM taps local bond market for US$176m

By Mike Gambale and Paul Kilby

NEW YORK, May 25 (IFR) - Below is a recap of primary issuance activity in the LatAm market on Wednesday:

Number of deals priced: 1

Total issuance: US$750m

MARFRIG

Marfrig Holdings (Europe) announced a USD benchmark 7NC3 through bookrunners BB Securities, Bradesco, HSBC, Morgan Stanley and Santander. The senior unsecured bond is being sold under a 144A/RegS format without Reg rights. Expected ratings are B2/B+/B+. Marfrig Global Goods and Marfrig Overseas are acting as guarantors. The Luxembourg-listed bond will be governed by New York law.

IPTs: Low to mid 8s

GUIDANCE: 8.375% area (+/-12.5bp)

FINAL GUIDANCE: 8.25% (the number)

LAUNCH: US$750m 2023 at 8.25%

PRICED: US$750m 2023: 98.69; 8%C; 8.25%Y

PIPELINE:

Automotive parts manufacturer Rassini has mandated Goldman Sachs to take it on the road to meet investors next week in the US.

The company wrapped up roadshows on Wednesday in Los Angeles. The company is rated BB- by S&P, while its main operating subsidiary Rassini Automotriz carries a Ba2 rating from Moody's

Goldman Sachs is on the road marketing a US$500m financing package for Colombian road project Costera.

The borrower is looking at dollar bonds as well as inflation-linked peso bonds and loans, according to Fitch, which assigned a BBB- rating to the notes. (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)

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