By Aleesia Forni
Virginia Beach, Va., April 24 - Wendel SA priced €300 million of add-on notes (BB+) in two parts on Wednesday, according to an informed source.
The company priced a €200 million add-on to its 6¾% notes due April 20, 2018 at 113.292 to yield 3.768%.
The original €300 million issue was sold at 99.324 to yield 6 7/8% on April 11, 2011.
A second tranche was a €100 million tap of the company's 5 7/8% notes due Sept. 17, 2019, which priced at 109.779 to yield 4.098%.
The company priced the original €400 million notes on Sept. 7, 2012 at par.
HSBC Securities, BNP Paribas Securities Corp., CM-CIC, Societe Generale and Natixis were the dealers.
Proceeds will be used for general corporate purposes.
Wendel is a Paris-based investment company.
| Issuer: | Wendel SA
|
| Amount: | €300 million
|
| Securities: | Notes
|
| Dealers: | HSBC Securities, BNP Paribas Securities Corp., CM-CIC, Societe Generale and Natixis
|
| Trade date: | April 24
|
| Settlement date: | April 30
|
| Rating: | Standard & Poor's: BB+
|
|
|
| 2018 add-on
|
| Amount: | €200 million
|
| Maturity: | April 20, 2018
|
| Coupon: | 6¾%
|
| Price: | 113.292
|
| Yield: | 3.768%
|
| Total issue size: | €500 million, including €300 million priced at 99.324 to yield 6 7/8% on April 11, 2011.
|
|
|
| 2019 add-on
|
| Amount: | €100 million
|
| Maturity: | Sept. 17, 2019
|
| Coupon: | 5 7/8%
|
| Price: | 109.779
|
| Yield: | 4.098%
|
| Total issue size: | €500 million, including €400 million priced at par on Sept. 7, 2012
|
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