Chicago, Jan. 30 – Together Financial Services Ltd. priced an upsized £435 million offering of 4 7/8% six-year guaranteed senior secured notes (//BB), according to a market source and a press release.
The notes are being issued by the company’s wholly owned subsidiary, Jerrold FinCo plc.
The notes will be guaranteed by the parent and all of its other subsidiaries.
The Rule 144A and Regulation S deal was initially set to be £385 million and came tight to price talk in the 5% area.
Proceeds, together with cash on its balance sheet, will be used to redeem the company’s 6¼% senior secured notes due 2021. The incremental proceeds resulting from the £50 million upsizing of the deal will be used to pay debt under the revolver and for general corporate purposes.
Barclays is the lead.
The notes will be listed on Euronext Dublin.
Together Financial Services is a United-Kingdom-based financial services company.
| Issuer: | Jerrold FinCo plc
|
| Guarantor: | Together Financial Services Ltd.
|
| Issue: | Guaranteed senior secured notes
|
| Amount: | £435 million
|
| Maturity: | 2026
|
| Lead bookrunner: | Barclays
|
| Coupon: | 4 7/8%
|
| Pricing date: | Jan. 30
|
| Rating: | Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
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