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Europcar talks €500 million two-part note offering
By Paul A. Harris
St. Louis, May 8 - Europcar Amag Services AG issued price talk on its €500 million two-part note offering on Monday, according to a market source.
The Switzerland-based car rental arm of Volkswagen AG is talking its seven-year senior subordinated secured floating-rate notes at Euribor plus 375 to 400 basis points.
Meanwhile the company is talking is eight-year senior subordinated unsecured fixed-rate notes at 8 1/8% to 8 3/8%.
Tranche sizes remain to be determined.
A mid-week pricing is anticipated.
Deutsche Bank Securities has the books for the Rule 144A and Regulation S offering. BNP Paribas, Calyon Securities and Societe Generale are co-managers.
Proceeds will be used to help fund the acquisition of Europcar by private equity firm Eurazeo from Volkswagen for about €3.32 billion.
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