PacRub gives thanks for reverse enquiry as LatAm pauses for turkey
Colombia’s largest private oil and gas company Pacific Rubiales pounced on reverse demand for its 2021s to reopen the bonds for a further $300m on Monday November 25.
Ba2/BB+ rated Pacific Rubiales reopened the 7.25% coupon notes at a reoffer price of 105, in line with initial price thoughts of 105. This gave a yield of 6.241%. The existing 2021s, first issued at par in December 2011, were seen trading around 107/107.5 before the tap.
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