By Paul A. Harris
Portland, Ore., April 29 – Madrid-based pizzeria Telepizza priced a €335 million issue of Tasty Bondco 1 SAU seven-year notes (B2) at par to yield 6¼% on Friday, according to a market source.
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 issuing entity is Tasty Bondco 1 SAU, an investment vehicle managed directly by KKR, which is acquiring Telepizza.
Proceeds will be used to refinance debt.
| Issuer: | Tasty Bondco 1 SAU (Telepizza)
|
| Amount: | €335 million
|
| Maturity: | May 15, 2026
|
| Securities: | Senior secured notes
|
| Left bookrunner: | Citigroup (bill and deliver)
|
| Joint bookrunners: | Santander, Barclays and Mizuho
|
| Coupon: | 6¼%
|
| Price: | Par
|
| Yield: | 6¼%
|
| Call protection: | Three years
|
| Trade date: | April 26
|
| Rating: | Moody's: B2
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
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