Cerba HealthCare sets talk in €745 million two-part notes offering

By Paul A. Harris

Portland, Ore., May 12 – Cerba HealthCare set price talk in its €745 million offering of high-yield notes, according to market sources.

Chrome Bidco is selling €420 million of seven-year senior secured notes (B1/B) talked to yield 3½% to 3¾%.

Chrome Holdco is selling €325 million of eight-year senior unsecured notes (Caa1/CCC+) talked to yield 5% to 5¼%.

Books were scheduled to close on Wednesday.

Deutsche Bank is the physical bookrunner. Goldman Sachs, Natixis and UBS are lead bookrunners. BNP Paribas, Credit Agricole, HSBC, JPMorgan, Mizuho, Nomura and UniCredit are the joint bookrunners.

The notes in both tranches come with three years of call protection.

Proceeds from the notes are part of the financing for the buyout of Cerba, a French medical diagnostics company, by EQT AB and Canada's Public Sector Pension Investment Board.

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