Poland's Ciech sets 9½%-9¾% yield talk for multi-tranche seven-year notes offering

By Paul A. Harris

Portland, Ore., Nov. 21 - Poland's Ciech SA set yield talk of 9½% to 9¾% for its multi-tranches offering of seven-year senior secured notes (B2/B/) on Wednesday, according to a market source.

The deal is coming in euro- and zloty-denominated tranches, with final sizes to be determined.

The euro tranche is expected to be sized at €225 million minimum.

Books are set to close Wednesday.

Joint bookrunner Credit Suisse will bill and deliver for the Rule 144A and Regulation S deal. Barclays is also a joint bookrunner.

The Warsaw-based soda ash producer plans to use the proceeds to repay bank and bond debt.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.