By Paul A. Harris
Portland, Ore., May 7 – Acuris Finance US, Inc. and Acuris Finance Sarl priced a $350 million issue of seven-year senior secured notes (B2/B) at par to yield 5% on Friday, according to a market source.
The yield printed at the tight end of the 5% to 5¼% yield talk, which came in on top of initial guidance.
J.P. Morgan Securities LLC and Standard Chartered were the bookrunners.
The financial services provider plans to use the proceeds to repay bank debt and for general corporate purposes.
| Issuers: | Acuris Finance US Inc. and Acuris Finance Sarl
|
| Amount: | $350 million
|
| Maturity: | May 1, 2028
|
| Securities: | Senior secured notes
|
| Bookrunners: | J.P. Morgan Securities LLC and Standard Chartered
|
| Coupon: | 5%
|
| Price: | Par
|
| Yield: | 5%
|
| Spread: | 376 bps
|
| Call protection: | Three years
|
| Trade date: | May 7
|
| Settlement date: | May 13
|
| Ratings: | Moody's: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5% to 5¼%
|
| Marketing: | Roadshow
|
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