Published on 11/2/2015 in the Prospect News High Yield Daily.
New Issue: Ethias sells €171 million tap of 5% subordinated notes due 2026 at 80
By Paul A. Harris
Portland, Ore., Nov. 2 – Ethias SA announced in a Monday press release that it has priced a €170.8 million add-on to its dated subordinated notes due January 2026 (//BB) at 80.
ABN Amro, BNP Paribas and JPMorgan were the bookrunners.
The Liege, Belgium-based insurance services company plans to use the proceeds for general corporate purposes.
Issuer: | Ethias SA
|
Amount: | €170,800,000
|
Maturity: | January 2026
|
Securities: | Dated subordinated notes
|
Bookrunners: | ABN Amro, BNP Paribas, JPMorgan
|
Coupon: | 5%
|
Price: | 80
|
Settlement date: | Nov. 5
|
Rating: | Fitch: BB
|
Placement: | Private
|
Original issue: | €170.8 million
|
Total issue size: | €402.7 million
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