Heidelberger Druckmaschinen plans €50 million tap of 9¼% notes due 2018; pricing expected Tuesday

By Paul A. Harris

Portland, Ore., Dec. 10 - Heidelberger Druckmaschinen AG plans to price a €50 million add-on to its 9¼% senior notes due April 15, 2018 (expected ratings Caa1/CCC+) on Tuesday, according to an informed source.

Joint bookrunner Deutsche Bank will bill and deliver for the Rule 144A and Regulation S deal. BNP Paribas, Commerzbank and LLBW are also joint bookrunners. DZ Bank and HSBC are co-managers.

The notes become callable on April 15, 2014 at 106.938.

The Heidelberg, Germany-based manufacturer of sheetfed offset printing presses plans to use the proceeds for general corporate purposes.

The original €304 million issue priced at 98.735 to yield 9½% in March 2011.

The add-on notes will be fungible with the original notes.

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