Puma Energy defies EM wobble with crossover appeal

Puma Energy
By Stefanie Linhardt
29 Jan 2014

Oil products company Puma Energy has priced its debut high yield bond in line with guidance on Tuesday, relying on broad appeal to a varied investor base to overcome the sell-off in emerging market credits.

Global co-ordinators Goldman Sachs and Société Générale, and bookrunners ING, Natixis, Rand Merchant Bank and Standard Bank priced the $750m unsecured 2021 bond at 6.75%, in line with yield guidance.

The bond priced at par and closed at 100.25-100.50 on Tuesday, according to the banker, trading a bit softer ...

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