Iesy Repository €215 million 10-year notes talked in 8¾% area

By Paul A. Harris

St. Louis, Feb. 4 - Iesy Repository GmbH's €215 million offering of 10-year senior notes (Caa1/CCC+) received price talk in the 8¾% area, according to a market source.

Pricing is expected to take place Monday in London.

JP Morgan and Citigroup are the joint bookrunners for the Rule 144A/Regulation S with no registration rights notes. Lehman Brothers is the joint lead manager.

The notes will come with five years of call protection.

Proceeds will be used to help fund the acquisition of Ish or, if the acquisition does not occur, to fund a dividend. The sponsor is Apollo Management.

Iesy is the parent of German cable TV operator Iesy GmbH.

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