Sifco Aims Bond

Brazil’s Sifco is aiming for a yield of 12.75%-area for a $200m 2018 bond, according to investors following the deal, expected to price as soon as today. The manufacturer of forged components for the auto industry is looking to replace its $75m in 11.50% 2016 bonds, and recently launched a cash tender offer. Sifco is offering $960m per $1,000 principal in an offer expiring November 20 and subject to the new bond sale. Goldman Sachs, Citi, and Banco Pine are managing the tender offer and also took Sifco to meet investors through last week. The 2016 was originally sold last year through a RegS transaction.