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Kaufman & Broad talks €370 million five-year notes to yield 7%-7¼%; pricing Wednesday
By Paul A. Harris
Portland, Ore., March 25 - France-based real estate developer Kaufman & Broad SA talked its €370 million offering of five-year senior notes to yield 7% to 7¼%, a market source said on Tuesday.
The deal is expected to price on Wednesday.
Joint global coordinator and physical bookrunner Goldman Sachs International will bill and deliver for the Rule 144A and Regulation S deal. Credit Suisse and Credit Agricole CIB are also joint global coordinators and physical bookrunners. Natixis is a bookrunner. Banco Sabadell is the manager.
The notes come with two years of call protection.
Proceeds will be used to repay debt, to repurchase preferred shares and for general corporate purposes.
The issuing entity will be Financiere Gaillon 8 SA, the parent of Neuilly-sur-Seine, France-based Kaufman & Broad.
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