By Paul A. Harris
St. Louis, Jan. 24 - Eco-Bat Technology Ltd. priced €165 million of senior guaranteed notes due Jan. 31, 2013 (B1/B+) at par on Friday in London to yield 10 1/8%, according to an informed source.
Price talk was for a yield of 10%-10¼%.
Credit Suisse First Boston and Salomon Smith Barney were joint bookrunners.
Proceeds from the Rule 144A notes will be used to finance the acquisition of two recycling plants.
The issuer is a U.K.-based battery recycler.
| Issuer: | Eco-Bat Technology Ltd.
|
| Amount: | €165 million
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| Maturity: | Jan. 31, 2013
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| Securities description: | Senior guaranteed notes
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| Bookrunners: | Credit Suisse First Boston, Salomon Smith Barney (joint)
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| Coupon: | 10 1/8%
|
| Price: | Par
|
| Yield: | 10 1/8%
|
| Call features: | Non-callable for five years
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Price talk: | 10%-10¼%
|
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