New York, Nov. 27 – Elis priced a €75 million Schuldschein private placement in four tranches, the company said in a news release.
HSBC was the arranger.
The deal is made up of three-year notes with a 1.3% credit margin accounting for 15% of the total, four-year notes with a 1.4% credit margin making up 28% of the total, five-year notes with a 1.5% credit margin making up 23% and seven-year notes with a 1.75% credit margin for the remaining 34%.
Elis split the deal into 46% floating rate and 54% fixed rate.
Proceeds will be used to continue repaying the bridge loan used to finance the acquisition of Berendsen.
Elis is a Saint-Cloud, France-based company that specializes in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances.
Issuer: | Elis
|
Issue: | Schuldschein
|
Amount: | €75 million
|
Arranger: | HSBC
|
Announcement date: | Nov. 27
|
|
Three-year notes
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Amount: | 15% of total
|
Maturity: | Three years
|
Credit margin: | 1.3%
|
|
Four-year notes
|
Amount: | 28% of total
|
Maturity: | Four years
|
Credit margin: | 1.4%
|
|
Five-year notes
|
Amount: | 23% of total
|
Maturity: | Five years
|
Credit margin: | 1.5%
|
|
Seven-year notes
|
Amount: | 34% of total
|
Maturity: | Seven years
|
Credit margin: | 1.75%
|
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