Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kiloutou > News item |
Kiloutou finalizes €250 million floaters due 2030 at 350 bps over Euribor at par; pricing Friday
By Paul A. Harris
Portland, Ore., Jan. 25 – France-based equipment rental company Kiloutou finalized pricing in its €250 million offering of Kapla Holding SAS senior secured floating-rate notes due July 2030 (B1/B+) with a 350 basis points spread to Euribor, with no Euribor floor, at par, according to a market source.
The final spread comes at the tight end of the 350 bps to 375 bps spread talk. The issue price comes on top of price talk.
Books close on Thursday, and the deal is set to price on Friday, with terms expected alongside the announcement of the outcome of a concurrent exchange/tender offer.
The new Rule 144A and Regulation S 6.5-year notes become callable after one year at par.
Global coordinator JPMorgan will bill and deliver. Credit Agricole CIB is also a global coordinator. BNP Paribas, Natixis and SG are joint bookrunners.
Proceeds will be used to refinance the company’s floating-rate notes due 2027 and to repay amounts drawn on its revolver.
© 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.