By Paul A. Harris
St. Louis, Oct. 16 - Invitel Holdings NV priced a €125 million issue of seven-year senior floating-rate PIK notes (B3/B-) at 99.00 with a coupon of three-month Euribor plus 825 basis points on Monday, according to an informed source.
The issue was priced on top of the price talk.
Credit Suisse ran the books for the Rule 144A and Regulation S transaction. The co-manager was BNP Paribas.
Proceeds will be used to sponsor a dividend payment.
Invitel is Hungary's second largest fixed-line telecom.
| Issuer: | Invitel Holdings NV
|
| Amount: | €125 million
|
| Maturity: | April 15, 2013
|
| Security description: | Senior floating-rate PIK notes
|
| Bookrunner: | Credit Suisse
|
| Co-manager: | BNP Paribas
|
| Coupon: | Three-month Euribor plus 825 bps (contains 200 bps step-up)
|
| Price: | 99.00
|
| Call features: | Callable after 18 months at 100, 102, 101, par
|
| Trade date: | Oct. 16
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B-
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Euribor plus 825 bps coupon at 99
|
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