Azule Energy Finance Plc (AZURGY), exp B2/B+ by Moody's/Fitch, US$1.2bn 144A/Reg S 5nc2 sr notes. Citi (B&D)/JPM/SB/StanChart as JGCs/JBRs; RNDMBK as JBR. Standard Call: Callable from YR2 at par +50%; YR3 at par +25%; YR4 at par. Pricing 1/16. Settle 1/23.
IPTs: Mid/High 8%.GUIDANCE: 8.25% area.LAUNCHED: $1.2bn 5nc2 at 8.125%.
PRICED: $1.2bn 8.125% 1/23/30 100.000 8.125%. MW+50.
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Azule Energy Finance Plc, a wholly-owned subsidiary of Azule Energy Holdings Limited, which is a 50/50 JV between bp and Eni and one of the largest independent E&P groups in Sub-Saharan Africa by production with assets in Angola and Namibia, has mandated Citi, J.P. Morgan, Standard Bank and Standard Chartered Bank as Joint Global Coordinators and Bookrunners, and Rand Merchant Bank as Bookrunner to arrange physical investor meetings in London and calls starting on Monday 13 January.A Global Investor Call will also take place at 1:30pm UK / 8:30am NY on the same day.A debut Reg S /144A senior unsecured, benchmark sized, 5NC2 notes offering will follow, subject to market conditions.The Company and the Notes are expected to be rated B2 (Stable) by Moody’s and B+ (Stable) by Fitch. J.P. Morgan will be coordinating logistics.