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Atalian launches upsized €625 million seven-year notes at par to yield 4%; pricing Wednesday
By Paul A. Harris
Portland, Ore., April 26 – La Financiere Atalian SA launched an upsized €625 million offering of seven-year senior notes (expected ratings B2/B+) at par to yield 4%, according to market sources.
The deal size is increased from €600 million.
The yield is set to price inside of earlier yield talk in the 4¼% area.
The Rule 144A and Regulation S deal is set to price Wednesday.
Joint global coordinator and physical bookrunner Credit Suisse will bill and deliver. BNP Paribas is also a joint global coordinator and physical bookrunner.
The notes come with two years of call protection.
The Paris-based provider of outsourced building services plans to use the proceeds to take out its 7¼% senior notes due 2020, to pay off existing bilateral agreements and for general corporate purposes, including acquisitions.
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