By Paul A. Harris
Portland, Ore., April 18 – Samsonite Finco Sarl, a subsidiary of Samsonite International SA, priced an upsized €350 million issue of eight-year senior notes (BB+) at par to yield 3½% on Wednesday, according to a market source.
The issue size was increased from €300 million.
The yield printed at the tight end of the 3½% to 3 5/8% yield talk and inside of initial talk in the 3¾% area.
Joint bookrunner Morgan Stanley will bill and deliver. BofA Merrill Lynch, HSBC and SunTrust Robinson Humphrey Inc. are also joint bookrunners.
The Hong Kong-based manufacturer of bags and luggage plans to use the proceeds to repay debt.
| Issuer: | Samsonite Finco Sarl
|
| Amount: | €350 million
|
| Maturity: | Eight years
|
| Securities: | Senior notes
|
| Bookrunners: | Morgan Stanley (bill and deliver), BofA Merrill Lynch, HSBC, SunTrust Robinson Humphrey Inc.
|
| Coupon: | 3½%
|
| Price: | Par
|
| Yield: | 3½%
|
| Call protection: | Three years
|
| Trade date: | April 18
|
| Rating: | S&P: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 3½% to 3 5/8%
|
| Marketing: | Roadshow
|
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