Netherlands-based HEMA to start roadshow Wednesday for €715 million three-part notes offer

By Paul A. Harris

Portland, Ore., June 3 - Netherlands-based retailer HEMA plans to start a roadshow on Wednesday for a €715 million three-part offering of high-yield notes, according to a market source.

The deal is coming in the form of two tranches of five-year senior secured notes (/B+/) from HEMA Bondco I BV. These include a €290 million tranche of fixed-rate notes which come with two years call protection and a €275 million tranche of floating-rate notes which come with one year of call protection.

There will also be a single €150 million tranche of 5.5-year senior unsecured notes (/B-/), with 2.5 years of call protection, to be issued via HEMA Bondco II BV.

The roadshow wraps up on June 10, and the deal is set to price subsequently.

Global coordinator Credit Suisse will bill and deliver. ABN Amro, BNP Paribas, Citigroup, JP Morgan and Royal Bank of Scotland are the joint bookrunners.

The company, which is headquartered in Amsterdam, plans to use the proceeds from the Rule 144A and Regulation S for life deal to refinance debt.

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