By Paul A. Harris
Portland, Ore., July 6 – Amara Nzero priced a €270 million issue of Green Bidco five-year senior secured green notes (B/B+) at par to yield 10¼% on Thursday, according to a market source.
The yield printed in the middle of yield talk in the 10¼% area.
Joint global coordinator and joint physical bookrunner Goldman Sachs will bill and deliver. UBS was also a global coordinator and physical bookrunner. Deutsche Bank was a joint bookrunner.
Proceeds will be used to fund Cinven’s acquisition of a majority stake in Amara Nzero, a Madrid-based B2B distributor of products and services used in the energy transition space.
The transaction was undertaken in alignment with Amara’s green bond framework, a source said.
| Issuer: | Green Bidco
|
| Amount: | €270 million
|
| Issue: | Senior secured green notes
|
| Tenor: | Five years
|
| Global coordinators: | Goldman Sachs (bill and deliver) and UBS
|
| Physical bookrunners: | Goldman Sachs and UBS
|
| Joint bookrunner: | Deutsche Bank
|
| Coupon: | 10¼%
|
| Price: | Par
|
| Yield: | 10¼%
|
| Call protection: | Two years
|
| Trade date: | July 6
|
| Ratings: | S&P: B
|
| Fitch: B+
|
| Price talk: | 10¼% area
|
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