Labeyrie talks €80 million tap of 5 5/8% secured notes in 99.5 area; books close Wednesday

By Paul A. Harris

Portland, Ore., Feb. 3 – Labeyrie Fine Foods SAS talked a proposed €80 million add-on to its 5 5/8% senior secured notes due March 15, 2021 (/expected B/expected B+) to price at 99.5, plus or minus 0.25 points, market sources say.

Books were scheduled to close at 10:30 a.m. ET on Wednesday.

Global coordinator BNP Paribas bill and deliver for the Rule 144A and Regulation S for life deal. Deutsche Bank is also a global coordinator. Credit Agricole CIB, HSBC and Natixis are joint bookrunners.

The notes become callable after March 15, 2017 at 102.813.

The Cam, France-based specialty foods company plans to use the proceeds to fund the acquisitions of Financiere Pere Olive SA and Meninvest BV.

The original €275 million issue priced at par in March 2014.

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