Edenor, the largest electricity distributor in Argentina, said Monday that it sold $135 million worth of six-year bonds in the international market last week.
The new 2030 notes carry a fixed coupon of 9.75% and priced at 97.154 to yield 10.5%, the company said in a securities filing.
Bank of America, BTG Pactual, Crédit Agricole CIB, UBS and BCP Securities were joint bookrunners on the offering, while Balanz Capital Valores, Global Valores and the subsidiary of China’s ICBC acted as local placement agents, it added.
Fitch Ratings gave the notes an international CCC+ rating.
Edenor plans to use the proceeds to refinance debt, add to working capital and fund investments, according to the ratings agency.
The company originally planned to sell $400 million worth of seven-year notes in the cross-border market in September, but it was said to have postponed the sale after holding price talks with investors.