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Albea Beauty plans €45 million tap of 8¾% secured notes due 2019
By Paul A. Harris
Portland, Ore., Jan. 27 – Albea Beauty Holdings SA is in the market with a €45 million add-on to its 8¾% senior secured notes due Nov. 1, 2019 (expected ratings B2/B), according to a market source.
Joint bookrunner BofA Merrill Lynch will bill and deliver. JPMorgan is also a joint bookrunner.
The Rule 144A and Regulation S notes become callable on Nov. 1, 2015 at 106.563.
Proceeds will be used for general corporate purposes.
The issuer is a Gennevilliers, France-based producer of plastic packaging used by the cosmetics industry.
The original €200 million issue priced at par in October 2012 as part of an overall $647 million equivalent issuance of seven-year senior secured notes that included $385 million of 8 3/8% notes due Nov. 1, 2019, which also priced at par.
The add-on notes will become fungible with the original 8¾% notes.
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