By Abigail W. Adams
Portland, Me., Sept. 29 – WE Soda Investments Holding plc priced $800 million five-year senior secured notes (B+/BB-) on Friday at par with a coupon of 9˝%, according to a market source.
The notes priced on top of initial price talk that was in the mid-9% area.
BNP Paribas, Goldman Sachs and JPMorgan are joint global coordinators and bookrunners for the Rule 144A and Regulation S offering.
Deutsche Bank AG, London Branch, Emirates NBD Capital, MUFG Securities EMEA plc, PNC Capital Markets LLC and Bank of China (Europe) SA are also joint bookrunners.
The notes are non-callable for two years.
Proceeds will be used to refinance debt.
WE Soda is the world’s largest producer of natural soda ash. The company is based in London, and the company’s parent company, West End Soda, is based in Turkey.
| Issuer: | WE Soda Investments Holding plc
|
| Amount: | $800 million
|
| Issue: | Senior secured notes
|
| Maturity: | Oct. 6, 2028
|
| Global coordinators: | BNP Paribas, Goldman Sachs and JPMorgan
|
| Joint bookrunners: | BNP Paribas, Goldman Sachs, JPMorgan, Deutsche Bank AG, London Branch, Emirates NBD Capital, MUFG Securities EMEA plc, PNC Capital Markets LLC and Bank of China (Europe) SA
|
| Coupon: | 9˝%
|
| Price: | Par
|
| Yield: | 9˝%
|
| First call: | Two years
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 6
|
| Ratings: | S&P: B+
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
| Price talk: | Mid-9% area
|
|
|
© 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.
