Lutech talks €275 million six-year secured notes at 5¼% area yield

By Paul A. Harris

Portland, Ore., May 13 – Lutech SpA, an Italian information technology services provider, talked a €275 million offering of Libra GroupCo SpA six-year senior secured notes (B2/B) to yield in the 5¼% area, according to a market source.

Joint global coordinator and joint physical bookrunner BNP Paribas will bill and deliver. Deutsche Bank is also a joint global coordinator and joint physical bookrunner.

IMI - Intesa San Paolo, NatWest Markets, Nomura and UniCredit are the joint bookrunners.

The Rule 144A and Regulation S notes become callable after two years at par plus 50% of the coupon.

Proceeds will be used to finance the acquisition of the Milan-based company by Libra HoldCo Sarl, as well as to pay off Lutech’s debt, and for general corporate purposes, including acquisitions.

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