Heckler & Koch talks €290 million equivalent seven-year secured notes with 9¾% area yield

By Paul A. Harris

Portland, Ore., May 5 - Germany's Heckler & Koch GmbH talked both the dollar- and euro-denominated tranches of its €290 million equivalent offering of seven-year senior secured notes (Caa1/CCC+) with a yield in the 9¾% area on Thursday, according to an informed source.

The deal is set to price on Friday.

Citigroup Global Markets has the books for the Rule 144A and Regulation S for life deal.

Close Brothers is the co-manager.

The notes come with three years of call protection.

Proceeds will be used to refinance existing operating company and holding company debt.

The prospective issuer is an Oberndorf, Germany-based small-arms maker.

© 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.