By Paul A. Harris
Portland, Ore., Feb. 13 – Switzerland-based gategroup priced a CHF 300 million issue of five-year bonds at par to yield 3% on Monday, according to a market source.
The yield printed on top of revised yield talk in the 3% area. Initial talk was 3% to 3¼%.
BNP Paribas, Credit Suisse and UBS managed the sale.
Proceeds will be used to refinance debt.
The Kloten, Switzerland-based firm is the parent company for 10 brands that provide services to the travel industry, including catering, hospitality, provisioning and logistics.
| Issuer: | gategroup
|
| Amount: | CHF 300 million
|
| Maturity: | Feb. 28, 2022
|
| Securities: | Bonds
|
| Bookrunners: | BNP Paribas, Credit Suisse and UBS
|
| Coupon: | 3%
|
| Price: | Par
|
| Yield: | 3%
|
| Trade date: | Feb. 13
|
| Settlement date: | Feb. 28
|
| Price talk: | 3% area, revised from 3% to 3¼%
|
| Marketing: | Roadshow
|
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