Jerrold talks £450 million six-year secured notes to yield 8%-8¼%

By Abigail W. Adams

Portland, Me., March 26 – Jerrold Finco plc talked its £450 million offering of six-year senior secured notes (BB/BB) to yield 8% to 8¼% with pricing expected later in the March 25 week, according to a market source.

The notes are non-callable for two years.

Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are joint global coordinators and bookrunners for the Rule 144A and Regulation S offering.

Goldman Sachs & Co. LLC, Lloyds Securities Inc. and NatWest Markets Securities Inc. are also bookrunners.

Proceeds, along with proceeds from the sale of assets, will be used to refinance the company’s 2026 senior secured notes.

Jerrold Finco is a subsidiary of Together Financial Services Ltd., a U.K.-based specialist mortgage lender.

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