SSP plans notes in four parts, Coro Energy issues €22.5 million of eurobonds

By Devika Patel

Knoxville, Tenn., April 12 – Friday was fairly active for the private placement market, with two new deals announced.

London-based SSP Group plc, an operator of food and beverage concessions, intends to sell $199.5 million and €58.5 million of notes; and London-based Coro Energy plc, an oil and gas company, completed a €19,125,000 proceeds private placement of €22.5 million of 5% three-year eurobonds, sold at 85, with 41,357,500 warrants.

SSP financing eyed

SSP Group will place $199.5 million and €58.5 million of notes in four tranches in July and December.

The notes include $66.5 million of 4.06% notes due in July 2026, $66.5 million of 4.25% notes due in December 2027, $66.5 million of 4.35% notes due in December 2029 and €58.5 million of 2.11% notes due in July 2031.

Proceeds will largely be used for debt repayment, with any remainder being used for general corporate purposes.

Coro places bonds

Coro Energy sold €22.5 million of 5% three-year eurobonds in a private placement with warrants.

The notes were issued at 85, for total proceeds of €19,125,000.

The notes were sold in two equal tranches of €11.25 million each.

CIP Merchant Capital Ltd. and Lombard Odier Asset Management (Europe) Ltd. were among the investors.

Proceeds will be used to acquire a 15% interest in the Duyung PSC and for working capital.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.