By Paul A. Harris
Portland, Ore., Sept. 7 – Austrian debt collector Lowell Group priced €415 million of Euribor plus 350 basis points six-year senior secured floating-rate notes (B+) at par, according to a market source.
The spread came at the tight end of the Euribor 350 bps to 375 bps spread talk.
Joint bookrunner Credit Suisse will bill and deliver. JPMorgan was also a joint bookrunner.
Proceeds will be used to redeem all of the company's existing floating-rate secured notes.
| Issuers: | Garfunkelux Holdco 2 SA and Garfunkelux Holdco 3 SA
|
| Amount: | €415 million
|
| Maturity: | Sept. 1, 2023
|
| Securities: | Senior secured floating-rate notes
|
| Bookrunners: | Credit Suisse (bill and deliver), JPMorgan
|
| Coupon: | Euribor plus 350 bps
|
| Price: | Par
|
| Yield: | Euribor plus 350 bps
|
| Euribor floor: | 0%
|
| Announcement date: | Sept. 7
|
| Rating: | S&P: B+
|
| Price talk: | Euribor plus 350 bps to 375 bps, 0% Euribor floor
|
| Marketing: | Roadshow
|
© 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.
