Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Montichem Holdco 2 SA > News item |
CABB sets price talk in €640 million three-part offering of notes
By Paul A. Harris
Portland, Ore., Sept. 26 – CABB Group set price talk in its €640 million three-part offering of notes, according to a market source.
The deal features two tranches of secured notes via issuing entity Montichem Holdco 3 SA.
They include €300 million minimum of 5.5-year fixed-rate notes with two years of call protection, talked to yield 5¼% to 5½%, as well as a to-be-determined amount of 5.5-year floating-rate notes talked to price at par with a 525 basis points to 550 bps spread to three-month Euribor, an no Euribor floor.
The sole unsecured tranche comes as seven-year senior notes with three years of call protection, via issuing entity Montichem Holdco 2 SA, talked with a 9½% coupon at 97.522 to yield 10%.
The Sulzbach, Germany-based specialty chemicals company plans to use the proceeds, together with cash on the balance sheet, to redeem existing notes in full and repay bank debt.
© 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.