Spain’s Grupo Cortefiel sets roadshow for €600 million two-part offering of seven-year notes

By Paul A. Harris

Portland, Ore., Sept. 1 – Madrid-based fashion retailer Grupo Cortefiel plans to start a European roadshow on Monday for a €600 million two-part offering of seven-year senior secured notes (B2/B), according to a market source.

The Rule 144A and Regulation S deal is coming in a pair of tranches both sized at €300 million: fixed-rate notes with three years of call protection and floating-rate notes with one year of call protection.

The European roadshow is scheduled to conclude on Thursday. Further details on the timing of the deal are pending.

Joint bookrunner Credit Suisse will bill and deliver. Credit Agricole CIB and SG CIB are also joint bookrunners.

Proceeds will be used to pay off the company's senior facilities.

The issuing entity will be Masaria Investments SAU.

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