EB Holdings (Eco-Bat) €200 million 10-year PIK note talked 10% area, pricing Friday

By Paul A. Harris

St. Louis, Feb. 10 - EB Holdings Inc., the newly created parent of Eco-Bat Technologies Ltd., is talking its quick-to-market €200 million offering of 10-year senior PIK notes in the 10% area, according to an informed source.

Pricing is expected on Friday.

The notes will be non-callable for two years.

Citigroup and Credit Suisse First Boston are the bookrunners for the Rule 144A/Regulation S offering.

At the issuer's discretion the coupon payments may be made in cash or through the issuance of additional PIK notes.

Proceeds will be used to fund a distribution to shareholders.

Eco-Bat Technologies is a U.K.-based battery recycling company.

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