Published on 9/15/2016 in the Prospect News High Yield Daily.
New Issue: Camelot Finance sells $500 million 7 7/8% eight-year notes at par
By Paul A. Harris
Portland, Ore., Sept. 15 – Camelot Finance SA priced a $500 million issue of eight-year senior notes (Caa2/B-) at par to yield 7 7/8% on Thursday, according to a syndicate sources.
The yield on the acquisition-related deal printed 12.5 basis points tighter than the 8% to 8¼% yield talk.
BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Barclays, Goldman Sachs & Co. and Guggenheim were the joint bookrunners.
Issuer: | Camelot Finance SA
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Amount: | $500 million
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Maturity: | Oct. 15, 2024
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Securities: | Senior notes
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Bookrunners: | BofA Merrill Lynch, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Barclays, Goldman Sachs & Co., Guggenheim
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Coupon: | 7 7/8%
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Price: | Par
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Yield: | 7 7/8%
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Spread | 630 bps
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Call protection: | Three years
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Trade date: | Sept. 15
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Settlement date: | Oct. 3
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Ratings: | Moody's: Caa2
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| S&P: B-
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Distribution: | Rule 144A and Regulation S for life
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Price talk: | 8% to 8¼%
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Marketing: | Roadshow
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