Kiloutou launches upsized €200 million 4.5-year Euribor plus 550 bps floaters at 96

By Paul A. Harris

Portland, Ore., Jan. 24 – France-based equipment rental company Kiloutou launched an upsized €200 million offering of Kapla Holding SAS Euribor plus 550 basis points senior secured floating-rate notes due 2027 (B2/B+) at 96 on Tuesday, according to market sources.

The issue size increased from €150 million.

The spread launched on top of spread talk. The offering price is rich to price talk in the 95 area. There is no Euribor floor.

Global coordinator Credit Agricole CIB will bill and deliver. Natixis is also a global coordinator. SG and BNP Paribas are joint bookrunners.

The Rule 144A and Regulation S 4.5-year notes become callable after one year at 101.

The company plans to use the proceeds to repay the €150 million bridge loan put in place since April 2022 to fund its acquisition of Danish equipment rental company GSV.

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