Stabilus ups yield talk on €315 million five-year notes to 7¾%; pricing expected Friday

By Paul A. Harris

Portland, Ore., May 31 - Stabilus upwardly revised yield talk for its €315 million offering of five-year senior secured notes (B2/B) to 7¾% on Friday, according to a market source.

Earlier talk was 7¼% to 7½%.

The books were scheduled to close at 2 p.m. BST on Friday, 9 a.m. ET, and the deal was expected to price on Friday.

JPMorgan is the bookrunner. Commerzbank and UBS are the co-managers.

The Rule 144A and Regulation S for life notes come with two years of call protection.

The issuing entity is Servus Luxembourg Holding SCA.

Stabilus, a Koblenz, Germany-based supplier of gas springs and hydraulic dampers, plans to use the proceeds to repay debt and refinance a shareholder loan.

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