JLL whispers dividend-funding $500 million PIK toggle notes with 8¾%-9% yield; pricing Wednesday

By Paul A. Harris

Portland, Ore., April 29 – JLL/Delta Dutch Pledgeco BV, the parent company of DPx Holdings BV, is guiding a $500 million offering of senior PIK toggle notes due 2020 with an 8¾% to 9% yield, according to a bond trader.

The deal is set to price Wednesday.

J.P. Morgan Securities LLC, UBS Investment Bank, Jefferies LLC, KeyBanc Capital Markets and Morgan Stanley & Co. are the joint bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to fund a dividend to the parent.

The prospective issuer is a Durham, N.C.-based conglomerate with operations in pharmaceuticals and related businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.