By Paul A. Harris
Portland, Ore., Dec. 14 – Inter Media and Communication SpA priced a €300 million issue of five-year senior secured notes (BB-) at par to yield 4 7/8% on Thursday, according to a market source.
The yield printed at the tight end of yield talk in the 5% area.
Goldman Sachs was the global coordinator and bookrunner.
Proceeds will be used to refinance debt and provide working capital.
The prospective issuer is a unit of Football Club Internazionale Milano SpA.
| Issuer: | Inter Media and Communication SpA
|
| Amount: | €300 million
|
| Maturity: | Dec. 31, 2022
|
| Securities: | Senior secured notes
|
| Bookrunner: | Goldman Sachs
|
| Co-manager: | UBI Banca
|
| Coupon: | 4 7/8%
|
| Price: | Par
|
| Yield: | 4 7/8%
|
| Call protection: | Two years
|
| Trade date: | Dec. 14
|
| Settlement date: | Dec. 21
|
| Rating: | S&P: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5% area
|
| Marketing: | Roadshow
|
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