Chicago, May 3 – Wm Morrison Supermarkets Ltd. priced £1,075,000,000 of 5½% senior secured notes due 2027 (BB-/BB+), according to an announcement.
The principal indirect beneficial owners of the senior secured notes are funds managed or advised by Clayton, Dubilier & Rice, LLC.
Proceeds from the offering will be used to repay a portion of the loans outstanding under the senior secured bridge loan facility drawn upon by Market Bidco Ltd. in connection with the financing Bidco’s acquisition of the entire share capital of the company which became effective Oct. 27.
The issuer is Market Bidco Finco plc.
The notes will be listed on The International Stock Exchange.
Wm Morrison is a Bradford, U.K.-based supermarket group.
| Issuer: | Market Bidco Finco plc
|
| Amount: | £1,075,000,000
|
| Issue: | Senior secured notes
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| Maturity: | 2027
|
| Coupon: | 5½%
|
| Trade: | April 26
|
| Settlement date: | May 13
|
| Ratings: | S&P: BB-
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
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