By Paul A. Harris
Portland, Ore., Feb. 5 – Silk Bidco AS, a joint venture indirectly owned by Home Capital AS, Periscopus AS and investment funds managed by TDR Capital LLP, priced a €455 million issue of seven-year senior secured notes at par to yield 7 ½% on Jan. 30, according to a market source.
Silk Bidco plans to use the proceeds to finance its acquisition of Hurtigruten ASA, a Narvik, Norway-based transport company.
Goldman Sachs International was the global coordinator and bookrunner.
Hurtigruten provides bus services, and passenger and automobile ferry transportation services, as well as cruise ships and tourism services.
Silk Bidco plans to pay Hurtigruten shareholders NOK 7.00 per share, valuing the acquisition at NOK 2.94 billion, or about $442.3 million.
Issuer: | Silk Bidco AS (company: Hurtigurten ASA)
|
Amount: | €455 million
|
Maturity: | Seven years
|
Securities: | Senior secured notes
|
Global coordinator and bookrunner: | Goldman Sachs International
|
Coupon: | 7½%
|
Price: | Par
|
Yield: | 7½%
|
Spread: | 743 bps
|
Call protection: | Three years
|
Trade date: | Jan. 30
|
Settlement date: | Feb. 6
|
Distribution: | Rule 144A and Regulation S
|
Marketing: | Roadshow
|
© 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.