Afflelou starts roadshow for €425 million two-part secured notes

By Paul A. Harris

Portland, Ore., Oct. 3 – France-based optical and eyewear products and services provider Afflelou started a roadshow on Tuesday for a €425 million two-part offering of six-year senior secured notes (B3/B/B+), according to a market source.

The deal is coming in tranches of fixed-rate notes, which come with 2.5 years of call protection, and floating-rate notes, which come one year of call protection.

Tranche sizes remain to be announced.

The roadshow wraps up Friday, and the Rule 144A and Regulation S deal is set to price thereafter.

Global coordinator JPMorgan will bill and deliver. BNP Paribas, Credit Agricole CIB and UniCredit are the joint bookrunners.

Proceeds will be used to redeem the Afflelou senior secured notes due 2019 and the Lion/Seneca France 2 senior notes due 2019.

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