Salt Mobile sets guidance in €640 million two-part notes offering

Paul A. Harris

Portland, Ore., March 9 – Switzerland-based Salt Mobile SA set price talk in a €640 million two-part notes offering, according to a market source.

The deal includes €500 million of six-year senior secured floating-rate notes, non-callable for one year, talked with a 350 basis points spread to Euribor, with no Euribor floor, at par.

Salt is also doing a €140 million add-on to the Matterhorn Telecom Holding SA 4 7/8% senior notes due May 1, 2023, which is talked to price at par.

In a restructuring of the deal, proposed Swiss franc- and euro-denominated add-on tranches were withdrawn.

Books are closed.

Joint physical bookrunner Goldman Sachs International will bill and deliver. Credit Suisse is also a joint physical bookrunner. SG CIB is a joint bookrunner.

Proceeds will be used to refinance the existing senior secured floating-rate notes and to fund a shareholder distribution.

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