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France's Alain Afflelou sets price talk for €440 million two-part offering of five-year notes
By Paul A. Harris
Portland, Ore., April 16 - France-based optical and eyewear company Alain Afflelou set price talk for its €440 million two-part offering of five-year notes on Wednesday, according to a market source.
A €365 million tranche of senior secured notes (/B/BB-), via 3AB Optique Developpement, is talked to yield in the 5¾% area.
A €75 million tranche of senior unsecured notes (/CCC+/CCC+), via Lion/Seneca France 2, is talked to yield 7¾% to 8%.
The deal is expected to price on Thursday.
Global coordinator JPMorgan will bill and deliver for the Rule 144A and Regulation S for life offering.
Credit Suisse, UniCredit, Credit Agricole CIB and BNP Paribas are the joint bookrunners.
The notes in both tranches come with 1.5 years of call protection.
Proceeds will be used to refinance debt.
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