Marcolin tightens talk on €250 million six-year floaters to Euribor plus 425 bps; pricing Friday

By Paul A. Harris

Portland, Ore., Feb. 3 – Milan-based eyewear designer Marcolin SpA tightened price talk on its €250 million offering of six-year senior secured floating-rate notes (B2/B) to Euribor plus 425 basis points at par, according to a market source.

That talk is 50 bps tight to earlier spread talk of Euribor plus 475 bps at par.

Timing is accelerated.

The deal, via joint bookrunners Credit Suisse, Deutsche Bank and UniCredit, is expected to price on Friday, whereas it had previously been expected to remain in the market into the week ahead.

The notes come with one year of call protection.

Proceeds will be used to refinance debt.

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