By Paul A. Harris
Portland, Ore., April 15 - Eden Springs priced a €210 million issue of five-year senior secured floating-rate notes (B2/B/) at par to yield three-month Euribor plus 550 basis points on Tuesday, according to a market source.
The spread came on top of spread talk.
Joint global coordinator Credit Suisse will bill and deliver. Jefferies, Rabobank and UBS are also joint global coordinators.
The Preverenges, Switzerland-based company plans to use the proceeds to refinance debt and repay a shareholder loan.
Eden Springs is a provider of water and coffee solutions in Europe and Israel.
| Issuer: | Hydra Dutch Holdings 2 BV (Eden Springs)
|
| Amount: | €210 million
|
| Maturity: | April 15, 2019
|
| Securities: | Senior secured floating-rate notes
|
| Global coordinators: | Credit Suisse (bill and deliver), Jefferies, Rabobank, UBS
|
| Coupon: | Three-month Euribor plus 550 bps
|
| Price: | Par
|
| Yield: | Three-month Euribor plus 550 bps
|
| Price talk: | Euribor plus 550 bps
|
| First call: | April 15, 2015 at 101
|
| Trade date: | April 15
|
| Settlement date: | April 29
|
| Ratings: | Moody's: B2
|
| Standard & Poor's: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Roadshow
|
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