By Paul A. Harris
Portland, Ore., Jan. 14 – Ziggo Bond Finance BV priced €740 million equivalent of 10-year senior notes on Wednesday, according to a syndicate.
The deal included a $400 million tranche of notes, which priced at par to yield 5 7/8%, at the tight end of yield talk in the 6% area.
In addition Ziggo priced a €400 million tranche of notes at par to yield 4 5/8%, at the tight end of yield talk in the 4¾% area.
Credit Suisse was the lead left bookrunner. BofA Merrill Lynch, Deutsche Bank Securities Inc., ING and Morgan Stanley & Co. were the joint bookrunners.
The Utrecht, the Netherlands-based telecommunications company plans to use the proceeds to finance the contribution of UPC Netherlands to the Ziggo credit pool.
| Issuer: | Ziggo Bond Finance BV
|
| Amount: | €740 million equivalent
|
| Maturity: | Jan. 15, 2025
|
| Securities: | Senior notes
|
| Left bookrunner: | Credit Suisse
|
| Joint bookrunners: | BofA Merrill Lynch, Deutsche Bank Securities Inc., ING, Morgan Stanley & Co.
|
| Trade date: | Jan. 14
|
| Settlement date: | Jan. 29
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Roadshow
|
|
|
| Dollar-denominated notes
|
| Amount: | $400 million
|
| Coupon: | 5 7/8%
|
| Price: | Par
|
| Yield: | 5 7/8%
|
| Spread: | 405 bps
|
| First call: | Jan. 15, 2020 at 102.938
|
| Price talk: | 6% area
|
|
|
| Euro-denominated notes
|
| Amount: | €400 million
|
| Coupon: | 4 5/8%
|
| Price: | Par
|
| Yield: | 4 5/8%
|
| Spread: | 418 bps
|
| First call: | Jan. 15, 2020 at 102.313
|
| Price talk: | 4¾% 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.
