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Arqiva sets talk for £600 million equivalent dual-currency notes
By Paul A. Harris
Portland, Ore., Feb. 20 - England's Arqiva Broadcast Finance plc set price talk for its £600 million equivalent dual-currency offering of seven-year senior notes (B3) on Wednesday, according to a market source.
The dollar-denominated notes are talked to yield 9¼% to 9½%, and the sterling-denominated notes are talked to yield 9½% to 9¾%.
Final tranche sizes remain to be determined.
Books for the dollar-denominated notes closed on Wednesday. Books for the sterling-denominated notes close at 5 a.m. ET on Thursday.
Deutsche Bank, J.P. Morgan Securities LLC and Royal Bank of Scotland are the physical bookrunners. JPMorgan will bill and deliver for the dollar-denominated notes, while Royal Bank of Scotland will bill and deliver for the sterling-denominated notes.
BofA Merrill Lynch, Barclays, HSBC, Lloyds TSB and UBS are joint bookrunners.
The Rule 144A and Regulation S notes come with three years of call protection.
Proceeds will be used to refinance bank debt.
Arqiva is a Winchester, England-based provider of broadcast infrastructure.
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