By Marisa Wong
Los Angeles, June 15 – Grupo Antolin-Irausa, SA announced it priced €390 million of seven-year senior secured notes with a fixed coupon of 3½%.
The offering is expected to close on June 29.
The notes (B2/B) were talked to yield 3½% to 3¾%, according to market sources.
Physical bookrunner Deutsche Bank will bill and deliver, as previously reported.
The Rule 144A and Regulation S notes come with three years of call protection.
The Burgos, Spain-based auto parts supplier plans to use proceeds to redeem all of its outstanding 3¼% senior secured notes due 2024.
| Issuer: | Grupo Antolin-Irausa, SA
|
| Issue: | Senior secured notes
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| Amount: | €390 million
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| Maturity: | Seven years
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| Bookrunner: | Deutsche Bank
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| Coupon: | 3½%
|
| Call protection: | Non-callable for three years
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| Pricing date: | June 15
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| Settlement date: | June 29
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 3½%-3¾% yield
|
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