AES Gener tightens to 8.5% area as books top $3.5bn
Chilean utility company AES Gener has tightened price guidance for its $450m 60 year non-call 5.5 year step up note to 8.5% area, with area defined at plus or minus 12.5bp. Pricing of the deal is expected to take place after the New York open.
Citi and Goldman Sachs are arranging the deal.
Price guidance for the corporate hybrid bond started at 9% area on Tuesday. It was refined to high 8% before the most recent revision.
“Books are closed and stand at $3.5bn-$4bn,” said one syndicate official close to the deal in
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