New Issue: Editis prices €150 million 10-year notes at par to yield 8 3/8%

By Paul A. Harris

St. Louis, Oct. 21 - Odyssee Financing SA (Editis) sold €150 million of 10-year senior notes (B3/B) at par to yield 8 3/8% on Thursday, according to a syndicate source.

Price talk was in the 8½% area.

Lehman Brothers was the global coordinator for the Rule 144A/Regulation S issue with no registration rights. Credit Suisse First Boston, Lehman Brothers and BNP Paribas were joint bookrunners. Credit Suisse First Boston and Lehman Brothers had the physical books.

Proceeds will be used to support Wendel Investissement's acquisition of certain publishing assets from Lagardere.

Editis, formerly Vivendi Universal Publishing, is a Paris-based publisher of educational and consumer media.

Issuer:	Odyssee Financing SA (Editis)
Amount:	€150 million
Maturity:	Oct. 15, 2014
Security description:	Senior notes
Global coordinator:	Lehman Brothers
Bookrunners:	Credit Suisse First Boston, Lehman Brothers, BNP Paribas
Coupon:	8 3/8%
Price:	Par
Yield:	8 3/8%
Spread:	451.5 basis points
Call features:	Make-whole call at Bunds plus 50 basis points until Oct. 15, 2008, then callable at 108.375, 104.188, 102.792, 101.396, par
Equity clawback:	Until Oct. 15, 2007 for 40% at 108.375
Pricing date:	Oct. 21
Settlement date:	Oct. 28
Ratings:	Moody's: B3
	Standard & Poor's: B
Price talk:	8½% area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.