Eramet launches upsized €500 million six-year notes to yield 4.2%; pricing Thursday

By Paul A. Harris

Portland, Ore., Sept. 21 – Paris-based mining and metallurgy firm Eramet Co. set the final yield for its upsized €500 million offering of non-rated senior notes due Sept. 28, 2024 at 4.2%, according to a market source.

The long six-year Regulation S bearer bonds are set to be priced and allocated on Thursday.

The issue size increased from €300 million.

The yield comes inside of the 4 3/8% to 4½% initial guidance, the source said, adding that the deal was playing to $1.1 billion of demand at that guidance.

BNP Paribas, Credit Agricole CIB, Deutsche Bank, Natixis and SG CIB are the bookrunners. Credit Agricole will bill and deliver.

Proceeds will be used for general corporate purposes, which may include debt refinancing.

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