By Wendy Van Sickle
Columbus, Ohio, Aug. 30 – Stagwell Inc. closed an upsized $100 million add-on to its 5 5/8% eight-year senior notes (B3/B) on Monday, according to a news release.
The company priced an initial $1 billion of the notes on Aug. 12. It announced a $50 million add-on to the notes on Aug. 25 and later increased the amount to $100 million.
The notes were issued via Midas Opco Holdings LLC.
The New York-based marketing services provider plans to use the proceeds of the add-on to pay down its credit facility and for general corporate purposes.
Issuer: | Midas Opco Holdings LLC
|
Amount: | $100 million add-on
|
Maturity: | Aug. 15, 2029
|
Securities: | Senior notes
|
Coupon: | 5 5/8%
|
Call protection: | Three years
|
Closing date: | Aug. 30
|
Ratings: | Moody's: B3
|
| S&P: B
|
Distribution: | Rule 144A and Regulation S
|
Original issue: | $1 billion priced on Aug. 12
|
© 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.