Sitel talks $300 million eight-year senior notes at 11¾% to 12% yield

By Paul A. Harris

St. Louis, March 12 - Sitel Corp. talked its $300 million offering of eight-year senior notes (Caa2/B-) to yield 11¾% to 12% on Friday, according to a market source.

The order books close on Monday, with the deal expected to price after that.

Goldman Sachs & Co., Bank of America Merrill Lynch and Credit Suisse are joint bookrunners for the Rule 144A offer.

RBC Capital Markets Corp., Baird and Fifth Third Securities Inc. are co-managers.

The Nashville-based business outsourcing services provider plans to use the cash from the note sale to pay down bank debt.

Onex Corp. owns a majority stake in the company, which was formerly known as ClientLogic.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.