Published on 11/13/2015 in the Prospect News High Yield Daily.
New Issue: Alliance Data Systems prices €300 million eight-year notes at par to yield 5¼%
By Paul A. Harris
Portland, Ore., Nov. 13 – Alliance Data Systems Corp. priced a €300 million issue of unrated eight-year senior notes at par to yield 5¼% on Friday, according to a company press release.
The yield printed at the wide end of the 5% to 5¼% yield talk, according to a market source.
J.P. Morgan Securities LLC, BofA Merrill Lynch and Deutsche Bank Securities Inc. were joint bookrunners.
The Plano, Texas-based provider of data-driven marketing and loyalty solutions plans to use the proceeds to repay debt under its revolving credit facility and for general corporate purposes.
| Issuer: | Alliance Data Systems Corp.
|
| Amount: | €300 million
|
| Maturity: | Nov. 15, 2023
|
| Securities: | Senior notes
|
| Bookrunners: | J.P. Morgan Securities LLC, BofA Merrill Lynch, Deutsche Bank Securities Inc.
|
| Co-managers: | BNP Paribas Securities Corp., BBVA, Mizuho Securities, MUFG, RBC, SMBC Nikko, Wells Fargo Securities LLC
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Call: | Make-whole call at Bunds plus 50 bps until Nov. 15, 2018, then callable at 103.938
|
| Trade date: | Nov. 13
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| Settlement date: | Nov. 19
|
| Ratings: | Unrated
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5% to 5¼%
|
| Marketing: | Roadshow
|
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