New Issue: Vendex prices €275 million 10-year notes at par to yield 7 7/8%

By Paul A. Harris

St. Louis, Oct. 1 - Victoria Acquisition II BV, a financing subsidiary of Dutch retail group Vendex KBB NV, sold €275 million of 10-year senior notes (B3/B) at par Friday to yield 7 7/8%, according to a market source.

Price talk was 7 7/8% to 8%.

Citigroup and ING ran the books.

Proceeds will be used to help finance the acquisition of Vendex KKB, led by Kohlberg Kravis Roberts & Co., Cinven, Permira and AlpInvest.

Issuer:	Victoria Acquisition II BV (Vendex)
Amount:	€275 million
Maturity:	Oct. 1, 2014
Security description:	Senior notes
Bookrunners:	Citigroup, ING
Coupon:	7 7/8%
Price:	Par
Yield:	7 7/8%
Spread:	386 basis points
Call features:	Callable after Oct. 1, 2009 at 107.875, Oct. 1, 2010 at 103.938
Pricing date:	Oct. 1
Settlement date:	Oct. 8
Ratings:	Moody's: B3
	Standard & Poor's: B
Price talk:	7 7/8%-8%

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