Chicago, April 24 – Merlin Entertainments Ltd. priced an upsized €500 million offering of senior secured notes (B1/B) due May 15, 2025, according to a press release and a market source.
Pricing came at the low end of talk for a yield of 7% to 7¼%.
Deutsche Bank AG, London Branch handled billing and delivery.
The Rule 144A and Regulation S notes come with two years of call protection.
The issuing entity is Motion Finco Sarl.
The notes will be guaranteed by parent company Motion Acquisition Ltd. and also Motion Finco 2 Sarl, Motion Finco, LLC, Merlin Entertainments Ltd., Madame Tussauds Touring Exhibition Ltd., Merlin Attractions Operations Ltd., Merlin Entertainments (Dungeons) Ltd., Merlin Entertainments Group Holdings Ltd., Merlin Entertainments (SEA LIFE) Ltd., Legoland ApS, Dungeon Deutschland GmbH, Heide-Park Soltau GmbH, Legoland Deutschland Freizeitpark GmbH, Legoland Deutschland GmbH, Madame Tussauds Deutschland GmbH, Sea Life Deutschland GmbH, Gardaland Srl, Legoland California, LLC, Legoland Discovery Centre US, LLC, Legoland New York LLC, Madame Tussaud Las Vegas LLC, Madame Tussaud’s New York LLC, Merlin Entertainments Group Florida LLC, Merlin Entertainments Group U.S. Holdings Inc., Merlin Entertainments North America LLC, Sea Life Minnesota LLC and Sea Life US LLC.
Motion Finco is indirectly owned by funds affiliated with or managed by Blackstone, CPP Investments and Kirkbi A/S.
The Poole, England-based entertainment company plans to use the proceeds for general corporate purposes.
| Issuer: | Motion Finco Sarl
|
| Amount: | €500 million, upsized from €400 million
|
| Maturity: | May 15, 2025
|
| Securities: | Senior secured notes
|
| Billing and delivery: | Deutsche Bank AG, London Branch
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Call protection: | Two years
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Rating: | Moody’s: B1
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7% to 7¼% yield
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
