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Spanish supermarket operator Eroski begins marketing €500 million 5.5-year senior notes
By Paul A. Harris
Portland, Ore., Nov. 14 – Spanish supermarket chain operator Eroski plans to price a €500 million offering of senior notes due 2029, according to market sources.
The sale is being directed to qualified institutional buyers.
The 5.5-year notes come with two years of call protection.
Joint global coordinator and physical bookrunner Deutsche Bank will bill and deliver. BNP Paribas is also a joint global coordinator and physical bookrunner.
BBVA, Caixa Bank, Norbolsa, Santander and Sabadell are joint bookrunners.
The Elorrio, Spain-based company intends to use the proceeds plus funds obtained through certain financial instruments, as well as proceeds from the future sale of certain real estate assets, to refinance debt.
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