By Colin Hanner
Chicago, May 10 – Enjoy SA priced $300 million 10½% five-year notes (B-/B) at par on Wednesday, a market source said.
The downsized Rule 144A and Regulation S deal was originally sought at $330 million, a market source said.
Morgan Stanley and Credit Suisse were global coordinators and bookrunners for the deal. BTP Pactual and Banco Bilbao were also bookrunners.
S&P Global Ratings said proceeds of the deal will be used to execute the put option by Caesars' for a 55% stake in Baluma SA (Enjoy Conrad), which is the company's main EBITDA contributor.
Enjoy is a Santiago, Chile-based hotel and casino operator.
| Issuer: | Enjoy SA
|
| Description: | Notes
|
| Amount: | $300 million
|
| Maturity: | May 16, 2022
|
| Bookrunners: | Morgan Stanley, Credit Suisse, BTP Pactual and Banco Bilbao
|
| Coupon: | 10½%
|
| Price: | Par
|
| Yield: | 10½%
|
| Trade date: | May 10
|
| Settlement date: | May 16
|
| Ratings: | S&P: B-
|
| Fitch: B
|
| Distribution: | Roadshow
|
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