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Published on 4/28/2021 in the Prospect News High Yield Daily.

New Issue: Neinor Homes prices €300 million 4½% secured notes due 2026 at par

By Rebecca Melvin

Concord, N.H., April 28 – Neinor Homes SA priced €300 million 4½% long five-year senior secured notes (B+) at par, according to a regulatory notice.

Guarantors of the notes are Neinor Peninsula SLU, Norte SLU and Promociones Neinor 1 SLU.

Deutsche Bank AG was managing the Rule 144A and Regulation S deal.

The real estate development company is based in Bilbao, Spain.

Issuer:Neinor Homes SA
Guarantors:Neinor Peninsula SLU, Norte SLU and Promociones Neinor 1 SLU
Issue:Senior secured notes
Amount:€300 million
Maturity:October 2026
Manager:Deutsche Bank AG
Coupon:4½%
Price:Par
Yield:4½%
Pricing date:April 27
Rating:S&P: B+
Distribution:Rule 144A and Regulation S

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