Spain’s Telepizza starts roadshow for €335 million seven-year notes

By Paul A. Harris

Portland, Ore., April 23 – Madrid-based pizzeria chain Telepizza started a roadshow on Tuesday in London City for a €335 million offering of seven-year notes (B2), according to a market source.

The roadshow moves to London West End on Wednesday and to Frankfurt and Paris on Thursday and is set to wrap up on Thursday.

Further details on the timing of the deal remain to be determined.

Lead left bookrunner Citigroup will bill and deliver for the Rule 144A and Regulation S offering. Barclays, Mizuho and Santander are the joint bookrunners.

The notes become callable after three years at par plus 50% of the coupon.

The issuing entity will be Tasty Bondco 1 SAU, an investment vehicle managed directly by KKR, which is acquiring Telepizza.

Proceeds will be used to refinance debt.

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