International Vending Services talks €200 million seven-year notes in 7¼% area; pricing Tuesday

By Paul A. Harris

Portland, Ore., March 26 - Italy's International Vending Services talked its €200 million offering of seven-year senior secured notes (/BB-/) to yield in the 7¼% area on Tuesday, according to market sources.

The deal is set to price later Tuesday.

Joint bookrunner BNP Paribas will bill and deliver. Banca IMI is also a joint bookrunner.

The Rule 144A and Regulation S for life notes become callable in three years at par plus 50% of the coupon.

The vending machine company plans to use the proceeds to refinance debt and for general corporate purposes.

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