Stork sets price talk for €315 million seven-year notes at 11½% area

By Paul A. Harris

Portland, Ore., July 17 - Stork Technical Services Holdco BV, based in the Netherlands, set price talk for its €315 million offering of seven-year senior secured notes (confirmed B3/ expected B-) in the 11½% area on Tuesday, according to a market source.

The deal is set to price on Wednesday.

Joint bookrunner Goldman Sachs International will bill and deliver. Jefferies & Co. is also a joint bookrunner.

Rabobank International is the joint lead manager.

The co-managers are KKR Capital Markets, Commerzbank, DNB Markets and KBC Bank.

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

The Utrecht, Netherlands-based services provider to the oil and gas industry plans to use the proceeds to refinance debt.

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