By Kenneth Lim
Boston, June 18 - Davide Campari-Milano SpA subsidiary Redfire Inc. of Italy placed an upsized $250 million of senior unsecured notes in three tranches through a private transaction, the company said in a press release.
The placement comprised $40 million of 6.83% notes due 2014, $100 million of 7.5% notes due 2016 and $110 million of 7.99% notes due 2019. The total offering size was initially set at $150 million.
Bank of America Merrill Lynch was the lead bookrunner and Calyon Securities was a placement agent on the deal.
Proceeds will be used to refinance debt incurred by Campari in its recent acquisition of Wild Turkey. Compared to the acquisition debt, the new notes have a longer maturity profile and no scheduled principal amortization.
Campari is a Sesto San Giovanni, Italy-based beverage company.
| Issuer: | Redfire Inc. (Davide Campari-Milano SpA)
|
| Issue: | Senior unsecured notes
|
| Calls: | Non-callable
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Distribution: | Private placement
|
|
|
| Five-year notes
|
| Amount: | $40 million
|
| Maturity: | 2014
|
| Interest: | 6.83%
|
|
|
| Seven-year notes
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| Amount: | $100 million
|
| Maturity: | 2016
|
| Interest: | 7.5%
|
|
|
| Ten-year notes
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| Amount: | $110 million
|
| Maturity: | 2019
|
| Interest: | 7.99%
|
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