Dematic talks $300 million five-year notes with yield in 8¾% area

By Paul A. Harris

Portland, Ore., April 18 - Dematic SA talked its $300 million offering of five-year senior secured first-lien notes (B3/B) with a yield in the 8¾% area on Monday, according to market sources.

The books are scheduled to close at noon ET on Tuesday, and the deal is expected to price thereafter.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the joint bookrunners for the Rule 144A and Regulation S for life deal.

The notes will become callable in two years at par plus 50% of the coupon.

The Germany-based supplier of logistics and materials handling solutions plans to use the proceeds to repay its term loan and to fund a dividend.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.