By Paul A. Harris
St. Louis, Mo., March 13 - Agrokor DD downsized its offering of senior guaranteed secured notes due April 3, 2007 (B1/B+) to €130 million from €150 million and priced the deal at par to yield 11%, a market source informed Prospect News on Wednesday.
Price talk of 11% area had been heard on the deal, according to market sources.
Credit Suisse First Boston and Deutsche Banc Alex. Brown were joint bookrunners in a syndicate that also included Privedna Banka, according to the source.
The notes are guaranteed by at least 90% of the company's operating subsidiaries, according to the source.
The deal priced in the eurobond market. The notes will be listed on the Luxembourg Exchange.
The Zagreb, Croatia-based food company will use the proceeds to repay bank debt.
| Issuer: | Agrokor DD
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| Amount: | €130 million (decreased from €150 million)
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| Maturity: | April 3, 2007
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| Type: | Senior guaranteed secured notes
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| Bookrunners: | Credit Suisse First Boston, Deutsche Banc Alex. Brown
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| Coupon: | 11%, payable annually
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| Price: | Par
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| Yield: | 11%
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| Call features: | Non-callable
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| Settlement date: | April, 3, 2002
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| Ratings: | Moody's: B1
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| Standard & Poor's: B+ |
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