By Paul Deckelman
New York, Oct. 31 – Crystal Almond Sarl, the parent company of Greek telecommunications operator of WIND Hellas Telecommunications SA, priced €250 million senior secured notes due 2021 (/B/B), European high yield market sources said Monday.
The pricing took place on Thursday.
The notes, carrying a 10% coupon, priced at 98, yielding 10.525%.
The Rule 144A and Regulation S offering was bought to market via J.P. Morgan Securities LLC. It was marketed to investors via a roadshow last week.
The notes will be callable after three years at par plus 75% of their coupon.
The Athens, Greece-based telecommunications services provider plans to use the expected new-deal proceeds to refinance an existing senior secured facility and for general corporate purposes of WIND Hellas, including capital expenditure investments.
| Issuer: | Crystal Almond SARL
|
| Amount: | €250 million
|
| Security Description: | Senior secured notes
|
| Maturity: | Nov. 1, 2021
|
| Bookrunner: | J.P. Morgan Securities LLC
|
| Coupon: | 10%
|
| Price: | 98
|
| Yield: | 10.525%
|
| Spread: | B+1,092 bps
|
| Call protection: | Noncallable for three years, then at par plus 75% of coupon
|
| Ratings | S&P | B
|
| Fitch: | B
|
| Trade date: | Oct. 28
|
| Settlement date: | Nov. 4
|
| Distribution: | Rule 144A/Regulation S
|
| Marketing: | Roadshow
|
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