Europcar to start roadshow Wednesday for €500 million two-part offering

By Paul A. Harris

St. Louis, May 2 - Europcar AMAG Services AG will begin a roadshow Wednesday and Thursday in London for its €500 million two-part offering of notes, according to market sources.

The roadshow continues Friday in Amsterdam and Paris and on Monday in Frankfurt, Germany, and Edinburgh, Scotland.

The prospective issuer, which is the car rental arm of Volkswagen AG, plans to sell seven-year senior subordinated secured floating-rate notes that will be callable after one year at 102.

The company also plans to sell eight-year senior subordinated unsecured fixed-rate notes that will come with four years of call protection.

Deutsche Bank Securities has the books. The syndicate also includes BNP Paribas, Calyon Securities, Societe Generale.

Proceeds will be used to help fund the acquisition of Europcar by private equity firm Eurazeo from Volkswagen for €3.32 billion.

Europcar has headquarters in Kloten, Switzerland.

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