July 13, 2016 / 3:12 PM / 2 years ago

Celulosa Argentina puts bond sale on hold

NEW YORK, July 13 (IFR) - Pulp and paper company Celulosa Argentina has put its latest bond sale on hold, a source told IFR Wednesday.

The company had delayed pricing until Wednesday and cut the size to US$150m after marketing an up to US$200m deal earlier in the week.

Final guidance had been set at 10% area - flat to initial price thoughts.

Proceeds from the bond sale were slated for debt refinancing, working capital and general corporate purposes. Citigroup and Credit Suisse are acting as leads on the deal, which is rated B3/B by Moody’s and Fitch. (Reporting By Paul Kilby)

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