By Paul A. Harris
Portland, Ore., Jan. 22 – Credit management firm Lowell priced €660 million equivalent of Garfunkelux Holdco 3 SA senior secured floating-rate notes due 2023 in two tranches on Friday, a London-based market source said.
The deal included €530 million of Euribor plus 450 basis points notes, which priced at 99, and SEK 1.28 billion of Stibor plus 475 bps notes, which priced at par.
Goldman Sachs and Credit Suisse managed the sale.
Proceeds will be used to finance the acquisition of the carve-out business from Intrum in the Nordic region.
Lowell maintains headquarters in Leeds, England, and Essen, Germany.
| Issuer: | Garfunkelux Holdco 3 SA
|
| Amount: | €660 million equivalent
|
| Maturity: | Sept. 1, 2023
|
| Securities: | Senior secured floating-rate notes
|
| Managers: | Goldman Sachs, Credit Suisse
|
| Trade date: | Jan. 19
|
| Settlement date: | Feb. 2
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
|
|
| Euro-denominated notes
|
| Amount: | €530 million
|
| Coupon: | Euribor plus 450 bps
|
| Price: | 99
|
| First call: | Feb. 2, 2019 at 101
|
|
|
| Krona-denominated notes
|
| Amount: | SEK 1.28 billion
|
| Coupon: | Stibor plus 475 bps
|
| Price: | Par
|
| First call: | Feb. 2, 2020 at 102.375
|
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