Ruspetro guides to double digits
Oil and gas company Ruspetro has released initial price guidance of low to mid-11% for its five year bonds, which it expects to price later this week. The company is looking for an issue size of about $350m.
Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank are arranging the deal.
Standard & Poors has rated the bonds B-.The latest available financials are for the third quarter of 2012, which indicated revenues for the quarter of $51.57m. However, Ruspetro generated gross and operating losses ...