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Oriflame/Walnut Bidco set talk in €775 million equivalent two-part secured notes offering
By Paul A. Harris
Portland, Ore., July 26 – Sweden’s Oriflame Holding AG set price talk in its €775 million equivalent offering of five-year senior secured notes (B1//B+), according to a market source.
The deal is coming in dollar-denominated notes talked at 9¼% to 9½%, versus initial talk in the low 9% area, and euro-denominated notes talked at 7% to 7¼%, versus initial talk in the low-to-mid 7% area.
Tranche sizes remain to be determined.
Goldman Sachs is the lead.
The notes come with two years of call protection.
The issuing entity will be Walnut Bidco plc.
Proceeds will be used to repay a bridge loan put in place for the purpose of taking the Stockholm-based cosmetics company private.
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