By Paul A. Harris
Portland, Ore., July 13 – Maxeda DIY Holding BV priced a €475 million issue of five-year senior secured notes (B2/B-) at par to yield 6 1/8% on Thursday, according to a market source.
The yield printed at the tight end of yield talk in the 6¼% area.
A proposed tranche of secured floating-rate notes was withdrawn, with the proceeds shifted to the fixed-rate tranche.
Goldman Sachs was the lead bookrunner.
The Amsterdam-based do-it-yourself store chain plans to use the proceeds, together with cash on hand, to pay off its credit facility.
| Issuer: | Maxeda DIY Holding BV
|
| Amount: | €475 million
|
| Tenor: | Five years
|
| Securities: | Senior secured notes
|
| Bookrunner: | Goldman Sachs
|
| Coupon: | 6 1/8%
|
| Price: | Par
|
| Yield: | 6 1/8%
|
| Call protection: | Two years
|
| Trade date: | July 13
|
| Ratings: | Moody's: B2
|
| S&P: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6¼% area
|
| Marketing: Roadshow
|
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