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ELO launches €750 million four-year notes at 5 7/8%; pricing Wednesday
By Paul A. Harris
Portland, Ore., April 10 – ELO (BB+), formerly known as Auchan Holdings, launched a €750 million offering of four-year senior notes at 5 7/8%, on top of talk, according to a market sources.
At that price the deal was playing to €2.3 billion of demand, according to an informed source.
Initial guidance was 6 1/8% to 6¼%.
The Regulation S deal was set to price and allocate on Wednesday.
Joint global coordinator and joint active bookrunner BNP Paribas will bill and deliver. Natixis is also a joint global coordinator and joint active bookrunner. Credit Agricole, CIC, Deutsche Bank and Santander are also joint active bookrunners.
The French grocery retailer plans to use the proceeds for general corporate purposes.
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