By Paul A. Harris
Portland, Ore., July 31 – France-based elderly care services provider Domus Vi priced a €355 million issue of seven-year senior secured notes (/B/) at par to yield 6 7/8% on Thursday, according to a market source.
The yield printed on top of yield talk.
Joint bookrunner Goldman Sachs International will bill and deliver. Deutsche Bank and Natixis were also joint bookrunners.
Upon release from escrow, proceeds, along with proceeds from the equity contribution, will be used to finance the acquisition of the company by PAI Partners, as well as to repay bank debt and pay interest on the existing convertible bonds.
| Issuer: | HomeVi SAS (Domus Vi)
|
| Amount: | €355 million
|
| Maturity: | Aug. 15, 2021
|
| Securities: | Senior secured notes
|
| Bookrunners: | Goldman Sachs International (bill and deliver), Deutsche Bank, Natixis
|
| Coupon: | 6 7/8%
|
| Price: | Par
|
| Yield: | 6 7/8%
|
| Spread: | 626 bps
|
| Call protection: | Three years
|
| Trade date: | July 31
|
| Settlement date: | Aug. 7
|
| Rating: | Standard & Poor’s: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6 7/8% area
|
| Marketing: | Roadshow
|
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