Chicago, Jan. 31 – Kiloutou sold €200 million of senior secured floating-rate notes with a 4.5-year tenor and a Euribor plus 550 basis points coupon (B2/B+) in an upsized offering, according to a market source.
The notes came with an original issue discount of 96.
Kapla Holding SAS is the issuer.
The spread launched on top of spread talk. The offering price is rich to price talk in the 95 area. There is no Euribor floor. The deal was upsized from €150 million.
Global coordinator Credit Agricole CIB will bill and deliver. Natixis is also a global coordinator. SG and BNP Paribas are joint bookrunners.
The Rule 144A and Regulation S 4.5-year notes become callable after one year at 101.
The company plans to use the proceeds to repay the €150 million bridge loan put in place since April 2022 to fund its acquisition of Danish equipment rental company GSV.
| Issuer: | Kapla Holding SAS
|
| Amount: | €200 million
|
| Issue: | Senior secured floating-rate notes
|
| Maturity: | July 15, 2027
|
| Bookrunners: | Credit Agricole CIB, Natixis, Societe Generale and BNP Paribas
|
| Coupon: | Euribor plus 550 bps, floor of 0%
|
| Price: | 96
|
| Call: | After one year at 101
|
| Trade date: | Jan. 24
|
| Settlement date: | Feb. 1
|
| Ratings: | Moody’s: B2
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 95 area
|
| ISINs: | XS2463546007, XS2463545884
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
