By Paul A. Harris
St. Louis, Dec. 15 - Gerresheimer Alpha GmbH priced a €60 million add-on to its 7 7/8% senior notes due March 1, 2015 (Caa1/B-) at 98.50 on Thursday, resulting in a yield of 8.107%, according to a market source.
The issue price came at the tight end of the 98.00 to 98.50 price talk.
JP Morgan ran the books for the Rule 144A and Regulation S add-on.
Proceeds will be used to help fund the acquisition of Superfos Pharma Pack from Superfos Industries AS.
Gerresheimer is a Dusseldorf, Germany-based provider of glass and plastic packaging for the pharmaceuticals, laboratory-ware and cosmetics industries.
| Issuer: | Gerresheimer Alpha GmbH
|
| Amount: | €60 million
|
| Maturity: | March 1, 2015
|
| Security description: | Add-on to the 7 7/8% senior notes due March 1, 2015
|
| Bookrunner: | JP Morgan
|
| Coupon: | 7 7/8%
|
| Price: | 98.50
|
| Yield: | 8.107%
|
| Call protection: | Until March 1, 2010
|
| Trade date: | Dec. 15
|
| Settlement date: | Dec. 21 with accrued interest
|
| Ratings: | Moody's: Caa1
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 98.00 to 98.50
|
| Original issue: | €150 million priced at par on Feb. 28, 2005
|
| Total issue size: | €210 million
|
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