By Paul A. Harris
Portland, Ore., April 18 Grupo Antolin-Irausa, SA priced a 250 million issue of eight-year senior secured notes (Ba3/BB-) at par to yield 3 3/8% on Wednesday, according to a market source.
The yield printed at the tight end of yield talk in the 3½% area.
Deutsche Bank managed the sale.
The Burgos, Spain-based supplier of automotive components plans to use the proceeds, plus a 50 million increase of its existing senior facilities and 100 million of other debt, to repurchase or redeem 400 million of senior secured notes due 2022.
| Issuer: | Grupo Antolin-Irausa SA/Grupo Antolin Dutch BV
|
| Amount: | 250 million
|
| Maturity: | Eight years
|
| Securities: | Senior secured notes
|
| Lead: | Deutsche Bank
|
| Coupon: | 3 3/8%
|
| Price: | Par
|
| Yield: | 3 3/8%
|
| Call protection: | Three years
|
| Trade date: | April 18
|
| Ratings: | Moody's: Ba3
|
| S&P: BB-
|
| Price talk: | 3½% area
|
| Marketing: | Roadshow
|
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