Eden Springs plans to sell up to €160 million notes in the week ahead

By Paul A. Harris

Portland, Ore., Jan. 15 – Hydra Dutch Holdings 2 BV, the Netherlands-based holding company of water and coffee solutions provider Eden Springs, plans to sell up to €160 million of high-yield notes due April 15, 2019 (expected ratings B2/B) during the week ahead, according to a market source.

Global coordinator Credit Suisse will bill and deliver for the Rule 144A and Regulation S for life deal. Rabobank is the joint bookrunner.

Proceeds will be used to fund the acquisition of Nestle Water Direct businesses and to repay bank debt.

The company has also undertaken an exchange offer for €35 million of its outstanding €210 million senior secured floating-rate notes due 2019 into new fixed-rate notes.

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