New Issue: Akerys €300 million seven-year notes yield Euribor plus 325 bps

By Paul A. Harris

St. Louis, July 16 -Akerys Holdings SA priced a €300 million issue of seven-year senior floating-rate notes (Ba3/BB-) at par to yield three-month Euribor plus 325 basis points on Monday, according to market sources.

The notes were priced on top of the price talk.

BNP Paribas, Calyon Securities and SG Corporate & Investment Banking were joint bookrunners.

Proceeds will be used to refinance €273 million of debt incurred in the acquisition of the company by Qualis.

Akerys is a French real estate developer.

Issuer:	Akerys Holdings SA
Amount:	€300 million
Maturity:	Aug. 1, 2014
Security description:	Senior floating-rate notes
Bookrunners:	BNP Paribas, Calyon Securities, SG Corporate & Investment Banking
Coupon:	Three-month Euribor plus 325 bps
Price:	Par
Yield:	Three-month Euribor plus 325 bps
Call features:	Callable on Aug. 1, 2009 at 102, 101, par on and after Aug. 1, 2011
Trade date:	July 16
Settlement date:	July 20
Ratings:	Moody's: Ba3
	Standard & Poor's: BB-
Distribution:	Rule 144A/Regulation S
Price talk:	Euribor plus 325 bps area

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