By Paul A. Harris
St. Louis, Feb. 28 - Gerresheimer Glas AG priced €150 million of 10-year senior notes (Caa1/B-) at par to yield 7 7/8%, according to a market source.
The notes came on top of the 7 7/8% price talk, which had earlier been revised from 8% to 8¼%.
JP Morgan and Credit Suisse First Boston ran the books for the Rule 144A/Regulation S issue.
Proceeds will be used to help fund Blackstone Capital Partners' acquisition of Gerresheimer Glas from Investcorp and JP Morgan Partners.
Gerresheimer is a Dusseldorf, Germany-based provider of glass and plastic packaging for the pharmaceuticals, laboratory-ware and cosmetics industries.
| Issuer: | Gerresheimer Glas AG
|
| Amount: | €150 million
|
| Maturity: | March 1, 2015
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| Security description: | Senior notes
|
| Bookrunners: | JP Morgan, Credit Suisse First Boston
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| Coupon: | 7 7/8%
|
| Price: | Par
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| Yield: | 7 7/8%
|
| Spread: | 419 basis points
|
| Call protection: | Non-callable for five years
|
| Trade date: | Feb. 28
|
| Settlement date: | March 7
|
| Ratings: | Moody's: Caa1
|
| Standard & Poor's: B-
|
| Price talk: | 7 7/8% (revised from 8%-8¼%)
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