By Paul A. Harris
Portland, Ore., Jan. 23 - Spain-based online travel services provider Odigeo priced a €325 million issue of 5.5-year senior secured notes (B3/B/) at par to yield 7½% on Wednesday, according to market sources.
The yield printed at the tight end of the 7½% to 7¾% yield talk.
Joint bookrunner Credit Suisse will bill and deliver. Goldman Sachs, Lloyds TSB, SG CIB and UBS were also joint bookrunners.
Proceeds will be used to refinance debt.
The issuing entity is Geo Debt Finance SCA, a special purpose vehicle of the Barcelona-based company.
| Issuer: | Geo Debt Finance SCA (Odigeo)
|
| Amount: | €325 million
|
| Maturity: | Aug. 1, 2018
|
| Securities: | Senior secured notes
|
| Bookrunners: | Credit Suisse (bill and deliver), Goldman Sachs, Lloyds TSB, SC CIB, UBS
|
| Coupon: | 7½%
|
| Price: | Par
|
| Yield: | 7½%
|
| Spread: | 681 bps
|
| First call: | Callable on Feb. 1. 2015 at 103.75
|
| Trade date: | Jan. 23
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7½% to 7¾%
|
| Marketing: | Roadshow
|
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