By Paul A. Harris and Aleesia Forni
Virginia Beach, Va., July 22 - Maisons Du Monde priced €325 million 9% senior secured notes due Aug. 1, 2020 at par (expected B3/B) via special purpose vehicle Magnolia (BC) SA, according to a market source.
Global coordinator Credit Suisse will bill and deliver. Commerzbank and Natixis are joint bookrunners.
The Rule 144A and Regulation S for life notes come with three years of call protection.
Proceeds will be used to finance the acquisition of Maisons du Monde by Bain Capital and management.
Maisons du Monde is based in Brest, France.
| Issuer: | Magnolia (BC) SA (Maisons du Monde)
|
| Amount: | €325 million
|
| Maturity: | Aug. 1, 2020
|
| Security description: | Senior secured notes
|
| Global coordinator: | Credit Suisse
|
| Joint bookrunners: | Commerzbank, Natixis
|
| Coupon: | 9%
|
| Price: | Par
|
| Yield: | 9%
|
| Spread: | 810 bps
|
| Trade date: | July 22
|
| Settlement date: | July 31
|
| Ratings: | Moody's: expected B3
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Roadshow
|
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