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EB Holdings €600 million 10-year fixed rate PIK loan talked at 10¾% to 11%, pricing at 99
Rochester, N.H., March 22 - EB Holdings, Inc.'s planned €600 million fixed-rate PIK loan (Ba3/B+) due 2017 is talked at a coupon of 10¾% to 11% with a dollar price of 99, according to a market source.
Terms are expected to be set on Friday.
Credit Suisse and Citigroup will be joint bookrunners on the deal. Proceeds will be used to repay existing PIK notes and to fund a dividend to shareholders.
The roadshow began Thursday.
EB Holdings, Inc. is the parent of Eco-Bat Technologies, a U.K.-based battery recycling company.
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