Puma Energy pulls bond, investors say credit story 'uncredible'

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By Mariam Meskin
07 Oct 2020

Singapore-incorporated global energy business Puma Energy has pulled a planned dollar bond that was set to refinance an existing loan. The company attributed it to a lack of conducive market conditions, though investors say the issuer's credit story was unconvincing.

Puma Energy, rated B1/BB- By Moody's and Fitch, mandated banks on a Reg S/144A five year senior dollar bond of $300m-$650m in late September.

ING, MUFG, Natixis and Société Générale arranged investor calls for the trade.

But both market sources and Puma Energy said that, after speaking ...

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