By Paul A. Harris
St. Louis, Dec. 10 - Germany's Durr AG has priced a €75 million add-on to its 7¼% senior notes due in September 2015 (confirmed B2/existing B/) at 104.9 to yield 6%, according to a market source.
The reoffer price came on top of the price talk.
Close Brothers Seydler Bank AG built the book.
Durr is a Bietigheim-Bissingen, Germany-based holding company providing, through its subsidiaries, equipment, systems and services mainly for automobile and aircraft industries.
| Issuer: | Durr AG
|
| Face amount: | €75 million
|
| Proceeds: | €78,675,000
|
| Maturity: | September 2015
|
| Security description: | Add-on the 7¼% senior notes
|
| Bookrunner: | Close Brothers Seydler Bank AG
|
| Coupon: | 7¼%
|
| Price: | 104.9
|
| Yield: | 6%
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: existing B
|
| Price talk: | 104.9
|
| Marketing: | Roadshow
|
| Original issue: | €150 million issue priced at par in September 2010
|
| Total issue size: | €225 million
|
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