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Sarens sets talk for €300 million seven-year notes at 6% area
By Paul A. Harris
Portland, Ore., Feb. 5 – Belgium-based Sarens came out with initial price talk for its €300 million offering of seven-year senior notes in the 6% area, according to market sources.
BNP Paribas is leading the deal.
The notes come with three years of call protection.
Proceeds will be used to refinance the existing senior notes due 2022 and pay down the revolving credit facility.
The issuing entity will be Sarens Finance Co. NV.
Sarens provides heavy lifting and specialized crane rental services and manages complex transport projects. It is based in Wolvertem, Meise, Belgium.
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