Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for eAccess Ltd. > News item |
Japan's eAccess plans to go forward with offering of seven-year notes
By Paul A. Harris
Portland, Ore., March 14 - Japan's eAccess Ltd. intends to go forward with its planned sale of dollar-denominated and euro-denominated seven-year senior notes in the face of the catastrophic earthquake and tsunami damage sustained by its country, an informed source said on Monday.
Although the Tokyo-based telecommunications company did sustain some damage, it was relatively light, the source added.
The deal is being marketing on a roadshow on the East Coast of the United States during the early part of the March 14 week, after which the roadshow moves to Europe.
The deal size and tranche sizes remain to be determined.
UBS Investment Bank is the lead left bookrunner for the Rule 144A and Regulation S for life deal. ING and Credit Agricole CIB are the joint bookrunners.
The notes come with four years of call protection.
Credit ratings remain to be determined.
Proceeds, together with borrowings under the company's new senior secured credit facility, will be used to repay and terminate the company's old credit facilities.
The proceeds are to be escrowed pending funding under the new credit facility, which is expected on March 31.
© 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.