Kepler to sell €345 million seven-year secured floaters backing Ardian's acquisition of Biofarma

By Paul A. Harris

Portland, Ore., May 3 – Kepler SpA began marketing a €345 million offering of seven-year senior secured floating-rate notes (B3/B-) on Tuesday, according to market sources.

The deal, coming in support of the buyout of Biofarma SpA, is being shopped by means of investor conference calls scheduled to take place through Thursday and is expected to price before the end of the week.

BNP Paribas is the left lead bookrunner. Mediobanca and Nomura are the joint bookrunners.

The notes come with one year of call protection.

Proceeds plus balance sheet cash will be used to repay the bridge loan put in place to fund the acquisition of Biofarma by France-based private equity investor Ardian SAS from White Bridge Investments.

Biofarma is an Italian supplier of personal care products, including nutritional supplements.

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