By Paul A. Harris
Portland, Ore., Sept. 24 – iQera priced a €200 million issue of four-year senior secured notes (expected B2/confirmed B+) at par to yield 6˝% on Thursday, according to market sources.
The yield printed at the wide end of the 6 3/8% to 6˝% yield talk and in line with initial guidance in the mid-6% area.
JPMorgan was the physical bookrunner. Joint bookrunners were Credit Suisse, BNP Paribas, Credit Agricole CIB, Natixis and SG CIB.
The notes were sold via Louvre Bidco SAS.
The Paris-based debt collector plans to use the proceeds to repay debt under its revolver, to refinance €75 million of floating-rate notes and for general corporate purposes.
| Issuer: | Louvre Bidco SAS
|
| Amount: | €200 million
|
| Maturity: | September 2024
|
| Securities: | Senior secured notes
|
| Physical bookrunner: | JPMorgan
|
| Joint bookrunners: | Credit Suisse, BNP Paribas, Credit Agricole CIB, Natixis and SG CIB
|
| Coupon: | 6˝%
|
| Price: | Par
|
| Yield: | 6˝%
|
| First call: | September 2021 at 103.25
|
| Trade date: | Sept. 24
|
| Ratings: | Moody's: Expected B2
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6 3/8% to 6˝%
|
| Marketing: | Roadshow
|
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