PacRu Hits the Road

Colombia’s Pacific Rubiales plans to meet bond investors in Canada, the US, Europe and LatAm starting next week. The Ba3/BB borrower will see accounts beginning November 7 in London, and visit New York and Santiago Tuesday, Boston and Lima Wednesday, Los Angeles, Bogota, and Paris Friday, before wrapping up in Bogota and Switzerland on Saturday. Bank of America Merrill Lynch (BAML) is managing the process. One of Latin America’s largest private oil and gas companies, Pacific Rubiales has principal operations in Colombia, Peru and Guatemala. It last issued a bond in November 2009 when it priced $450m 8.75% 2016 bonds to 8.95% yield via BAML and Citi. Fitch upgraded Pacific Rubiales to BB from BB minus Thursday.