SAF Holland halts €150 million notes offer, cites market conditions

By Paul A. Harris

Portland, Ore., April 25 - Germany's SAF Holland GmbH has cited adverse market conditions as it postponed its €150 million offering of unrated five-year senior notes, market sources say.

The deal, which was in the market via bookrunners Commerzbank and UniCredit SpA, was talked in the 7¼% area, up from initial guidance of 7%.

The Bessenbach, Germany-based car and truck parts company came to the new issue market in order to refinance debt.

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