Soho House talks £200 million five-year notes to yield in 8¾% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Sept. 23 – Soho House Bond Ltd. talked its £200 million offering of five-year senior secured notes (Caa1/B-) to yield in the 8¾% area, according to a market source.

European books close at 7 a.m. ET on Thursday. Books for accounts in the United States close at 8:30 a.m. ET on Thursday.

The Rule 144A and Regulation S for life deal is set to price and allocate thereafter.

Physical bookrunner Barclays will bill and deliver. Jefferies is a bookrunner.

The notes become callable after two years at par plus 50% of the coupon.

The London-based company plans to use the proceeds to refinance debt, including the redemption of its 9 1/8% secured notes due 2018, and for general corporate purposes.

Soho House operates exclusive, private membership clubs as well as hotels, restaurants and spas.

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