Lycra to sell $810 million equivalent secured notes in dollars, euros during April 9 week

By Paul A. Harris

Portland, Ore., April 9 – Lycra Co. announced on Monday that it will run a full roadshow in Europe and the United States for an $810 million two-part offering of senior secured notes, according to market sources.

The Rule 144A and Regulation S deal includes $500 million of seven-year notes, which come with three years of call protection and initial price talk in the 8% area. It also includes €250 million of five-year notes with two years of call protection and initial price talk in the 6% area.

Joint global coordinator and sole physical bookrunner JPMorgan will bill and deliver. Barclays is also a joint global coordinator.

Proceeds will be used to finance the acquisition of Lycra Co. by Shandong Ruyi Technology Group.

The issuing entities will be Eagle Intermediate Global Holding BV and Ruyi US Finance LLC.

The company makes Lycra Fiber and operates other advanced fiber technologies.

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