By Christine Van Dusen
Atlanta, March 17 - Netherlands-based Hyva Global BV priced $375 million senior secured notes due March 24, 2016 (B1/B+/BB-) at par to yield 8 5/8%, a market source said.
The notes priced in line with guidance, whispered at the high 8% to 9% area.
Bank of America Merrill Lynch, Goldman Sachs, Nomura and Standard Chartered Bank were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to fund the acquisition of Hyva by Unitas Capital and NWS Holdings from 3i Group plc.
Hyva is a hydraulic-cylinder maker.
| Issuer: | Hyva Global BV
|
| Amount: | $375 million
|
| Maturity: | March 24, 2016
|
| Description: | Senior secured notes
|
| Bookrunners: | Bank of America Merrill Lynch, Goldman Sachs, Nomura, Standard Chartered Bank
|
| Coupon: | 8 5/8%
|
| Price: | Par
|
| Yield: | 8 5/8%
|
| Trade date: | March 17
|
| Settlement date: | March 24
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: B+
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Whispered at high 8% to 9% area
|
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