Spain's ONO talks €270 million eight-year notes at 8% area

By Paul A. Harris

St. Louis, Jan. 31 - ONO Finance II plc, a financing subsidiary of Spain-based cable TV company Grupo Corporativo ONO SA, is talking its €270 million offering of eight-year senior notes at the 8% area, according to a market source.

The offering is expected to price on Thursday.

JP Morgan, The Royal Bank of Scotland and Calyon Securities are joint bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to repay a bridge facility drawn in conjunction with ONO's acquisition of Auna Group in November.

Moody's Investors Service assigns its B3 rating to the notes.

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