Alliance Automotive talks €180 million tap of 6¼% notes due 2021 at 105.5-106; pricing Wednesday

By Paul A. Harris

Portland, Ore., Oct. 5 – Alliance Automotive Finance plc talked a proposed €180 million add-on to its 6¼% senior secured notes due Dec. 1, 2021 (B2) at 105.5 to 106, according to a London-based sellside source.

The Rule 144A and Regulation S deal is expected to price shortly.

Credit Suisse is the lead left bookrunner and joint global coordinator. UBS is also a joint global coordinator. Royal Bank of Scotland is the joint bookrunner.

The notes become callable after Dec. 1, 2017 at 103.125.

The Greny, France-based automotive parts supplier and repair services provider plans to use the proceeds to finance the acquisition of FPS Distribution Ltd. and its subsidiaries and to fund cash on the balance sheet.

The original €225 million issue priced at 96.556 to yield 6 7/8% in November 2014.

A previous €65 million add-on priced at 103.5 in May 2015.

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