International Personal Finance talks €300 million seven-year notes at 5 7/8% area, pricing Tuesday

By Paul A. Harris

Portland, Ore., April 1 - International Personal Finance plc talked its €300 million offering of senior notes due April 7, 2021 (//expected BB+) to yield in the 5 7/8% area, a market source said on Tuesday.

That talk comes 12.5 basis points lower than initial guidance in the 6% area.

The deal is set to price Tuesday.

Joint bookrunner HSBC will bill and deliver. Citigroup is also a joint bookrunner.

The Regulation S notes are coming off of the company's euro medium-term note program and will feature a 101% poison put.

The Leeds, England-based home credit company plans to use the proceeds to fund the tender offer for its 11½% guaranteed notes due 2015.

International Personal Finance operates using the Provident brand in Poland, the Czech Republic, Slovakia, Hungary, Mexico, Romania, Lithuania and Bulgaria.

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