Chicago, Feb. 3 – Empark sold €475 million of 1 7/8% senior secured notes due 2028 and €100 million of floating-rate notes due 2027 at Euribor plus 200 basis points, according to a press release.
The floating-rate notes have a 0% Euribor floor.
The proceeds of the notes, together with cash on hand, will be used to fund the redemption in full of the issuer’s €350 million of 2 7/8% senior secured notes due 2024 and €125 million of senior secured floating-rate notes due 2023 and to pay a distribution to shareholders of Arena Luxembourg Investments.
The issuer of the Rule 144A and Regulation S notes is Arena Luxembourg Finance Sarl, a financing arm of Arena Luxembourg Investments Sarl.
Madrid-based Empark is an Iberian parking infrastructure company.
| Issuer: | Arena Luxembourg Finance Sarl
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| Amount: | €575 million
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| Pricing date: | Jan. 24
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| Rating: | Moody’s: Ba3
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| Distribution: | Rule 144A and Regulation S
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| 2028 notes
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| Amount: | €475 million
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| Description: | Senior secured notes
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| Maturity: | 2028
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| Coupon: | 1 7/8%
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| 2027 Notes
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| Amount: | €100 million
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| Description: | Floating-rate notes
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| Maturity: | 2027
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| Rate: | Euribor plus 200 bps (0% Euribor floor)
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