By Paul A. Harris
Portland, Ore., Sept. 20 – Multi-Color Corp. priced an upsized $600 million issue of eight-year senior notes (B2/B+) at par to yield 4 7/8% on Wednesday, according to market sources.
The issue size was increased from $480 million.
The yield printed 12.5 basis points beneath the tight end of the 5% to 5¼% yield talk.
BofA Merrill Lynch was the left bookrunner. Citigroup Global Markets Inc., BMO Securities, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and KeyBank Capital Markets were the joint bookrunners.
The Cincinnati-based label maker plans to use the proceeds to help fund the acquisition of the labels division of Constantia Flexibles GmbH, to refinance an existing revolver and for general corporate purposes.
| Issuer: | Multi-Color Corp.
|
| Amount: | $600 million, increased from $480 million
|
| Maturity: | Nov. 1, 2025
|
| Securities: | Senior notes
|
| Left bookrunner: | BofA Merrill Lynch
|
| Joint bookrunners: | Citigroup Global Markets Inc., BMO Securities, Credit Suisse Securities (USA) LLC, Goldman Sachs & Co., KeyBank Capital Markets
|
| Coupon: | 4 7/8%
|
| Price: | Par
|
| Yield: | 4 7/8%
|
| Spread: | 272 bps
|
| Call protection: | Three years
|
| Trade date: | Sept. 20
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody's: B2
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5% to 5¼%
|
| 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.
