Daisy Group postpones £385 million secured notes offering

By Paul A. Harris

Portland, Ore., Oct. 21 – Daisy Group has postponed its £385 million two-part offering of five-year senior secured notes (expected ratings B2/B), according to market sources.

The company was not able to obtain interest rates to its liking, a London-based sellside source said.

The two-part offering had been set to come in tranches of fixed-rate notes and floating-rate notes.

Goldman Sachs International, HSBC and Lloyds were the bookrunners.

Proceeds would have been used to refinance debt.

The Nelson, England-based company sells converged telecom and IT solutions for small and medium sized businesses.

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