Chile’s Pampa Prices $250 Million in 15-year Bonds

Pampa Calichera, a holding company based in Chile, sold $250 million in 7.75% bonds (BB-) Friday morning. Orders for the 15-year bonds (13-year average) came in at close to $500 million and they were priced at par at a spread of 295.3 basis points over 10-year Treasuries. The 2022 bonds amortize 20% every year beginning in 2018, and include a make whole of Treasuries plus 50 basis points. Deutsche Bank had sole books.