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Nemean guides secured notes due 2024 to yield 7¼%-7½%
By Paul A. Harris
Portland, Ore., Jan. 19 – Nemean Bondco plc stated initial guidance of 7¼% to 7½% on an offering of senior secured fixed-rate notes due 2024.
The information appeared in a stabilization notice, which appeared on Thursday.
Credit Suisse Securities (Europe) Ltd. is the stabilization manager.
The stabilization period was expected to begin on Thursday.
In a ratings notice that appeared on Jan. 16, Moody's Investors Service assigned a B1 rating to a proposed £425 million of long-term senior secured bonds to be issued by Nemean Bondco.
Nemean will use the proceeds to partially fund the acquisition of NewDay Group Holding Sarl, the parent company of NewDay Group (NewDay), Moody's stated in the ratings release.
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