Published on 10/12/2016 in the Prospect News High Yield Daily.
New Issue: Tereos sells upsized €200 million tap of 4 1/8% senior notes due 2023 at 102.75
By Paul A. Harris
Portland, Ore., Oct. 12 – France-based sugar producer Tereos priced a €200 million add-on to its 4 1/8% senior notes due June 6, 2023 at 102.75 on Wednesday, according to a market source.
The deal, which was announced at a size of €100 million minimum, priced through the rich end of the 102.25 to 102.5 price talk.
It was led by a syndicate of banks that included BNP Paribas, Natixis, Rabobank, CM-CIC and HSBC.
| Issuer: | Tereos Finance Groupe 1
|
| Amount: | €200 million (deal was announces as €100 million minimum)
|
| Maturity: | June 6, 2023
|
| Security description: | Add-on to 4 1/8% senior notes due June 6, 2023
|
| Syndicate: | BNP Paribas, Natixis, Rabobank, CM-CIC, HSBC
|
| Coupon: | 4 1/8%
|
| Price: | 102.75
|
| Call: | Par call three months prior to maturity, otherwise non-callable
|
| Trade date: | Oct. 12
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| Settlement date: | Oct. 19
|
| Price talk: | 102.25 to 102.5
|
| Original issue: | €400 million priced at 99.257 to yield 4¼% on June 9, 2016
|
| Fungibility: | Add-on notes will immediately become fungible with original notes
|
| Total issue size: | €600 million
|
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