New Issue: Novacap prices €310 million five-year notes at par to yield Euribor plus 500 bps

By Paul A. Harris

Portland, Ore., May 7 - Novacap International SAS priced a €310 million issue of five-year senior secured floating-rate notes (B2/B) at par to yield Euribor plus 500 basis points on May 1, according to a market source.

Physical bookrunner Goldman Sachs International will bill and deliver. Deutsche Bank, BNP Paribas and SG CIB were the joint bookrunners.

The Paris-based chemical company plans to use the proceeds to repay bank debt and for general corporate purposes.

Issuer:	Novacap International SAS
Amount:	€310 million
Maturity:	May 1, 2019
Securities:	Senior secured floating-rate notes
Physical bookrunner:	Goldman Sachs International (bill and deliver)
Joint bookrunners:	Deutsche Bank, BNP Paribas, SG CIB
Coupon:	Euribor plus 500 bps
Price:	Par
Yield:	Euribor plus 500 bps
Call protection:	Callable after one year at 101
Trade date:	May 1
Settlement date:	May 9
Ratings: Moody's: B2
	Standard & Poor's: B
Distribution:	Rule 144A and Regulation S for life

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