New Issue: England's Eco-Bat prices €300 million 7¾% five-year notes at par to yield 7.752%

By Paul A. Harris

Portland, Ore., March 2 - Eco-Bat Finance plc priced a €300 million issue of 7¾% five-year senior notes (B1/B+/) at par to yield 7.752% on Friday, according to market sources.

The yield printed at the tight end of the 7¾% to 8% price talk.

Citigroup and Credit Suisse were the global coordinators and joint bookrunners. Barclays and ING were also joint bookrunners.

Credit Suisse will bill and deliver.

The Derbyshire, England-based lead smelting company plans to use the proceeds to repay its revolver and for general corporate purposes.

Issuer:	Eco-Bat Finance plc
Amount:	€300 million
Maturity:	Feb. 15, 2017
Securities:	Senior notes
Global coordinators/bookrunners:	Citigroup Global Markets Ltd., Credit Suisse Securities (Europe) Ltd.
Joint bookrunners:	Barclays Capital, ING Bank NV, London Branch
Coupon:	7¾%
Price:	Par
Yield:	7.752%
Spread:	693 bps
Call features:	Make-whole call at Bunds plus 50 bps until Feb. 15, 2014, then callable at 103.875, 101.9375, par on and after Feb. 15, 2016
Equity clawback:	35% at 107.75 until Feb. 15, 2014
Trade date:	March 2
Settlement date:	March 9
Ratings:	Moody's: B1
	Standard & Poor's: B+
Distribution:	Rule 144A and Regulation S
Price talk:	7¾% to 8%
Marketing:	Quick to market

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