Zoopla talks £200 million 5.5-year senior notes to yield in 4% area; pricing Thursday

By Paul A. Harris

Portland, Ore., Jan. 10 – Zoopla Property Group plc and ZPG plc talked their £200 million offering of 5.5-year senior notes (Ba3/BB-) to yield in the 4% area, according to a market source.

The Regulation S offering, in the market via left bookrunner HSBC Securities, is set to price on Thursday.

The notes come with two years of call protection.

The London-based real estate services and information company plans to use the proceeds, together with cash on hand and borrowings under its new revolving credit facility, to pay off its existing revolver and to repay amounts outstanding under its existing term loans.

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