New Issue: Hornbach-Baumarkt upsized €250 million 10-year notes yield 6 1/8%

By Paul A. Harris

St. Louis, Nov. 12 - German do-it-yourself retailer Hornbach-Baurmarkt AG priced an upsized €250 million of 10-year senior notes (Ba3/BB-) at par on Friday to yield 6 1/8%, according to a market source.

Deutsche Bank Securities and Goldman Sachs & Co. ran the books for the Rule 144A/Regulation S issue.

Proceeds will be used to improve the company's long-term capital structure and to secure its liquidity for further growth.

The offering was increased from €200 million

Issuer:	Hornbach-Baumarkt-AG
Amount:	€250 million (increased from €200 million)
Maturity:	Nov. 15, 2014
Security description:	Senior notes
Bookrunners:	Deutsche Bank Securities, Goldman Sachs & Co.
Coupon:	6 1/8%
Price:	Par
Yield:	6 1/8%
Spread:	235 basis points
Call features:	Callable after Nov. 15, 2009 at 103.063, 102.042, 101.021, par on and after Nov. 15, 2012
Pricing date:	Nov. 12
Settlement date:	Nov. 19
Ratings:	Moody's: Ba3
	Standard & Poor's: BB-

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.