Global Auto Logistiques to launch €100 million notes Nov. 21

By Paul A. Harris

St. Louis, Mo., Nov. 21 - Global Auto Logistiques SA is set to launch its €100 million high-yield bond issue on Nov. 21, a syndicate source told Prospect News Monday. The source also said that the bonds could price before the end of November.

One source identified the issuance as senior subordinate notes due 2009.

On Oct. 18 Prospect News reported that the deal had been downsized from its initially announced amount of €125 million. The downsizing, a syndicate source said, was prompted by "market conditions."

Bookrunner on the UK auto logistics company's deal is CIBC, with co-managers ING Barings and West LB.

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