Via Celere talks €300 million five-year secured notes at 5½%-5¾%

By Paul A. Harris

Portland, Ore., March 18 – Spanish real estate company Via Celere Desarrollos Inmobiliarios SA talked its €300 million offering of five-year senior secured notes (B+/BB) to yield 5½% to 5¾%, according to a market source.

Official talk comes inside of early guidance in the high 5% to 6% area.

A roadshow was scheduled to wrap up on 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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