Spain’s Via Celere guides €300 million five-year secured notes in high 5% to 6% area

By Paul A. Harris

Portland, Ore., March 16 – Spanish real estate company Via Celere Desarrollos Inmobiliarios SA is in the market with a €300 million offering of five-year senior secured notes (expected ratings B+/BB), according to market sources.

Initial guidance has the notes coming to yield in the high 5% to 6% area.

A roadshow is scheduled to run through Wednesday.

Global coordinator JPMorgan will bill and deliver. Deutsche Bank is also a global coordinator. Credit Suisse, Santander, Caxia, BBVA and Banco Sabadell are the bookrunners.

The notes come with two years of call protection.

The Madrid-based company plans to use the proceeds to repay debt and put cash on its balance sheet.

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