Louvre Bidco places €55 million floaters; Izcalli sells €207 million

By Devika Patel

Knoxville, Tenn., June 19 – Wednesday generated some activity in the private placement market with two deals announced.

Paris-based Louvre Bidco SAS, a debt issuing vehicle, arranged a €55 million private placement of floating-rate notes with a rate based on Euribor, and Madrid’s Izcalli Investments, SAU, a limited-purpose entity, sold about €207 million of 19-year green bonds.

Louvre Bidco prices

Louvre Bidco priced €55 million of floating-rate notes due 2024. J.P. Morgan Securities LLC is the agent.

The notes bear interest at a floating rate equal to the Euribor plus 537.5 basis points and will be sold at 99.75.

Proceeds will fund the planned acquisition by indirect subsidiary DSO Italia 2 of Sistemia SpA, with $20 million of cash left on the company’s balance sheet.

Settlement is expected July 3.

Izcalli wraps €207 million

Izcalli completed a private placement of approximately €207 million 19-year green bonds. The bonds are rated AA by S&P.

The notes are guaranteed by Assured Guaranty (Europe) plc.

The deal was arranged by lead managers Banco de Sabadell SA and Banco Santander SA.

Based in Madrid, Izcalli Investments is an entity majority owned by Q-Energy Group, an investor and asset manager in the photovoltaic solar sector.

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