By Paul A. Harris
Portland, Ore., Feb. 1 - Infinis plc priced a £350 million issue of six-year senior notes (Ba3/B+/) at par to yield 7% on Friday, according to a syndicate source.
Joint bookrunner Deutsche Bank will bill and deliver. Credit Suisse was also a joint bookrunner.
Proceeds will be used to refinance debt, to make a distribution to Infinis Energy Holdings Ltd. (IEHL) and to partially fund the acquisition of landfill gas assets owned by other subsidiaries of IEHL.
Infinis is a Northampton, England-based provider of landfill gas-to-electricity conversion services.
| Issuer: | Infinis plc
|
| Amount: | £350 million
|
| Maturity: | 2019
|
| Securities: | Senior notes
|
| Bookrunners: | Deutsche Bank (bill and deliver), Credit Suisse
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Call protection: | Three years
|
| Trade date: | Feb. 1
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
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