Verisure Holding talks upsized €200 million floaters with Euribor plus 500 bps spread at 99-99.5

By Paul A. Harris

Portland, Ore., April 16 – Security alarms maker Verisure Holding AB undertook to reopen the euro-denominated high-yield new issue market on Thursday with an upsized €200 million offering of five-year floating-rate notes (confirmed B1/existing B), according to market sources.

The deal, which is upsized from €150 million and is set to price as a drive-by, is talked with a 500 basis points spread to Euribor at 99 to 99.5.

JPMorgan has the lead.

The notes become callable after one year at 102.

The Malmo, Sweden-based company plans to use the proceeds for general corporate purposes.

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