Corral Petroleum guides $700m refinancing PIK bond above 11%

By Victor Jimenez
28 Apr 2016

Corral Petroleum Holdings, Sweden's largest oil refiner, on Wednesday released double digit price guidance for its $700m-equivalent of payment-in-kind toggle notes, as it meets investors in the US this week.

The bonds are five year non-call threes. Corral is rated B+ by Standard & Poor's and Fitch, but the notes have not been rated yet.

Guidance is 11.5%-11.75% for the euros and 11.75%-12% for the dollars, which makes Corral Petroleum’s offering the most likely candidate to become the first ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial