Kepler talks €345 million seven-year secured floaters at Euribor plus 575 bps at 96-97

By Paul A. Harris

Portland, Ore., May 6 – Kepler SpA talked its €345 million offering of seven-year senior secured floating-rate notes (B3/B-) with a 575 basis points spread to Euribor at 96 to 97, according to market sources.

There is no Euribor floor.

The deal, coming in support of the buyout of Biofarma SpA, has also undergone document changes.

Books were scheduled to close late Friday afternoon, London time.

BNP Paribas is the left lead bookrunner. Mediobanca and Nomura are the joint bookrunners.

The notes come with one year of call protection.

Proceeds plus balance sheet cash will be used to repay the bridge loan put in place to fund the acquisition of Biofarma by France-based private equity investor Ardian SAS from White Bridge Investments.

Biofarma is an Italian supplier of personal care products, including nutritional supplements.

© 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.