Bank of America (NYSE:C), Citigroup (NYSE:C), Deutsche Bank (NYSE:DB), Goldman Sachs (NYSE:GS) and UBS (NYSE:UBS) were joint bookrunners on the sale of $500 senior unsecured notes in the 144a private placement market for Korea Gas Corp.
Here are the data:
BORROWER: KOREA GAS CORP
AMT $500 MLN COUPON 4.250 PCT MATURITY 11/2/2020
TYPE SR NTS ISS PRICE 99.5010 FIRST PAY 5/2/2011
MOODY'S A1 YIELD 4.312 PCT SETTLEMENT 11/2/2010
S&P SINGLE-A SPREAD 170 BPS PAY FREQ SEMI-ANNUAL
FITCH A-PLUS MORE THAN TREAS NON-CALLABLE N/A
Showing posts with label Senior Unsecured Notes. Show all posts
Showing posts with label Senior Unsecured Notes. Show all posts
Tuesday, October 26, 2010
Thursday, September 9, 2010
Teck (NYSE:TCK) Notes Get "BBB-" Rating From Fitch
Fitch Ratings has assigned a "BBB-" to the $700 million in new notes offered by Teck Resources Limited (NYSE:TCK)(TSE:TCK-B).
Here's how Fitch rated the new notes for Teck:
- Issuer Default Rating (IDR) "BBB-";
- Senior Unsecured Notes "BBB-".
The senior unsecured notes are due 2021 and 2040.
Teck will use the notes to acquire up to $1 billion in total principal of existing notes due 2019.
Fitch keeps the rating outlook on Teck stable, citing their strong position in copper, low cost zinc operations, and leading position in the seaborne hard metallurgical coal market.
The stable outlook by Fitch assumes Teck will continue on with its current financial profile.
Here's how Fitch rated the new notes for Teck:
- Issuer Default Rating (IDR) "BBB-";
- Senior Unsecured Notes "BBB-".
The senior unsecured notes are due 2021 and 2040.
Teck will use the notes to acquire up to $1 billion in total principal of existing notes due 2019.
Fitch keeps the rating outlook on Teck stable, citing their strong position in copper, low cost zinc operations, and leading position in the seaborne hard metallurgical coal market.
The stable outlook by Fitch assumes Teck will continue on with its current financial profile.
Teck Resources (NYSE:TCK) to Buy Back $1 Billion of Notes by Issuing New Debt
With a goal of buying back up to $1 billion of notes, Teck Resources (NYSE:TCK) said they're going to offer as high as $700 million in senior unsecured notes on the market.
The notes to be acquired are outstanding senior secured notes due 2019.
To raise the capital to buy back the notes they're going to offer to sell up to $700 million of senior unsecured notes due 2021 and 2040.
An underwritten public offering in the U.S. will be initiated where the new senior unsecured notes will be sold.
The expiration of the tender offer to buy back the outstanding senior secured notes will be October 5, unless it is terminated earlier or extended to a later date.
The notes to be acquired are outstanding senior secured notes due 2019.
To raise the capital to buy back the notes they're going to offer to sell up to $700 million of senior unsecured notes due 2021 and 2040.
An underwritten public offering in the U.S. will be initiated where the new senior unsecured notes will be sold.
The expiration of the tender offer to buy back the outstanding senior secured notes will be October 5, unless it is terminated earlier or extended to a later date.
Friday, August 20, 2010
Teck (NYSE:TCK) Notes Rated "BBB-" by Fitch Ratings
New senior unsecured notes issued by Teck Resources Limited (NYSE:TCK) have been given a "BBB-" rating by Fitch Ratings.
One of the group of senior unsecured notes worth $300 million will be due in 2017, and another group worth $450 million will be due in 2040.
Capital garnered from the offerings will be sues to acquire up to $800 million of existing notes which are due in 2014 and 2016.
Fitch said if other leveraged acquisitions were to be made, a negative rating for Tech could follow, and if they further pay down their debt, positive ratings could be applied to them as well.
Teck was rated by Fitch like this:
- Issuer Default Rating "BBB-";
- Senior unsecured notes "BBB-".
One of the group of senior unsecured notes worth $300 million will be due in 2017, and another group worth $450 million will be due in 2040.
Capital garnered from the offerings will be sues to acquire up to $800 million of existing notes which are due in 2014 and 2016.
Fitch said if other leveraged acquisitions were to be made, a negative rating for Tech could follow, and if they further pay down their debt, positive ratings could be applied to them as well.
Teck was rated by Fitch like this:
- Issuer Default Rating "BBB-";
- Senior unsecured notes "BBB-".
Tuesday, August 10, 2010
Teck (NYSE:TCK) Increases Buyback to $800 Million
Last week Teck Resources (NYSE:TCK) (TSE:TCK-B) announced they were going to buy back $600 million in senior secured notes, along with $750 million in senior unsecured notes.
They've added to the first of the two, increasing the amount they want to buy back their senior secured notes to $800 million, a $200 million increase. These notes are due in 2014 and 2016.
Assuming the $800 million buyback is achieved, that would give Teck an accounting charge of about $240 million, before taxes, in the third quarter of 2010.
The buyback is a strategy by Teck to lower costs and expenses by reducing the amount of interest they must pay yearly over the short term.
They've added to the first of the two, increasing the amount they want to buy back their senior secured notes to $800 million, a $200 million increase. These notes are due in 2014 and 2016.
Assuming the $800 million buyback is achieved, that would give Teck an accounting charge of about $240 million, before taxes, in the third quarter of 2010.
The buyback is a strategy by Teck to lower costs and expenses by reducing the amount of interest they must pay yearly over the short term.
Thursday, June 3, 2010
Moody's (NYSE:MCO) Downgrades BP (NYSE:BP)
Moody's (NYSE:MCO) has joined Fitch Ratings in downgrading BP (NYSE:BP), dropping their senior unsecured ratings one, from Aa1 to Aa2.
While these ratings remain good ratings, it's a precursor to what could come if BP isn't able to turn things around in the Gulf by stopping or slowing down the oil leak soon.
The move by Moody's was made because of that very thing, where the costs of cleaning up the Gulf and the unknown legal ramifications the company will experience had concerns over debt high, as well as the increasing possibility BP could ultimately default on the debt.
Moody's said there could be further downgrades in the near future if the circumstances don't change.
While these ratings remain good ratings, it's a precursor to what could come if BP isn't able to turn things around in the Gulf by stopping or slowing down the oil leak soon.
The move by Moody's was made because of that very thing, where the costs of cleaning up the Gulf and the unknown legal ramifications the company will experience had concerns over debt high, as well as the increasing possibility BP could ultimately default on the debt.
Moody's said there could be further downgrades in the near future if the circumstances don't change.
Tuesday, March 16, 2010
United States Steel (NYSE:X) Unsecured Notes
United States Steel Unsecured Notes Offering
The United States Steel Corporation (NYSE:X) announced today it is looking at offering ounced its intention to offer, subject to market and other conditions, $500 million aggregate principal amount of senior unsecured notes, which would be due 2020.
There was no specific purpose made known by the company as to what the money would be used for other than "general corporate purposes."
Book-running the offering will be Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), J.P. Morgan (NYSE:JPM) and Barclays Capital.
U.S. Steel has filed a shelf registration statement with the Securities and Exchange Commission (SEC) for the offering.
United States Steel Unsecured Notes Offering
The United States Steel Corporation (NYSE:X) announced today it is looking at offering ounced its intention to offer, subject to market and other conditions, $500 million aggregate principal amount of senior unsecured notes, which would be due 2020.
There was no specific purpose made known by the company as to what the money would be used for other than "general corporate purposes."
Book-running the offering will be Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), J.P. Morgan (NYSE:JPM) and Barclays Capital.
U.S. Steel has filed a shelf registration statement with the Securities and Exchange Commission (SEC) for the offering.
United States Steel Unsecured Notes Offering
Thursday, February 25, 2010
Coeur d'Alene Mines (NYSE:CDE) Senior Unsecured Notes
Coeur d'Alene Mines (NYSE:CDE) Senior Unsecured Notes
In an effort to raise capital for the construction of its tailings dam at their Kensington mine, Coeur d'Alene Mines sold $100 million in senior unsecured notes, while also selling shares of common stock in the company for another $3.75 million.
According to Coeur d'Alene Mines Chief Financial Officer Mitchell J. Krebs, some of the capital could be directed toward its Palmarejo silver and gold mine in Mexico, where more underground development is needed.
Coeur d'Alene Mines (NYSE:CDE) Senior Unsecured Notes
In an effort to raise capital for the construction of its tailings dam at their Kensington mine, Coeur d'Alene Mines sold $100 million in senior unsecured notes, while also selling shares of common stock in the company for another $3.75 million.
According to Coeur d'Alene Mines Chief Financial Officer Mitchell J. Krebs, some of the capital could be directed toward its Palmarejo silver and gold mine in Mexico, where more underground development is needed.
Coeur d'Alene Mines (NYSE:CDE) Senior Unsecured Notes
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