Numericable talks €350 million seven-year notes with 13% area yield

By Paul A. Harris

Portland, Ore., Feb. 8 - French cable operator Numericable talked a €350 million offering of seven-year senior secured notes (confirmed B2/expected B) with a yield in the 13% area on Wednesday, according to an informed source.

The deal is set to price on Thursday.

J.P. Morgan Securities LLC is the physical bookrunner. Goldman Sachs & Co., BNP Paribas, Credit Agricole CIB and HSBC are the joint bookrunners. ING is the co-manager.

The Rule 144A and Regulation S for life notes come with four years of call protection.

The Lille, France-based company plans to use the proceeds to refinance debt.

The issuing entity will be financing unit Numericable Finance & Co. SCA.

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