By Paul A. Harris
St. Louis, Nov. 29 - Paris-based Alcatel-Lucent priced a €500 million issue of 8½% five-year senior notes (B1/B/) at 97.462 to yield 9 1/8% on Thursday, according to a market source.
The yield printed in the middle of the 9% to 9¼% price talk.
Goldman Sachs & Co. and Citigroup managed the Regulation S sale.
Proceeds will be used to refinance debt.
Alcatel-Lucent is a voice, data and video communication services provider to end-users.
| Issuer: | Alcatel-Lucent
|
| Amount: | €500 million
|
| Maturity: | Jan. 15, 2016
|
| Securities: | Senior notes
|
| Bookrunners: | Goldman Sachs & Co., Citigroup
|
| Coupon: | 8½%
|
| Price: | 97.462
|
| Yield: | 9 1/8%
|
| Spread: | 738 bps
|
| Call protection: | Non-callable
|
| Trade date: | Nov. 25
|
| Settlement date: | Dec. 2
|
| Ratings | Moody's: B1
|
| Standard & Poor's: B
|
| Distribution: | Regulation S only
|
| Price talk: | 9% to 9¼%
|
| Marketing: | Roadshow
|
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