By Paul A. Harris
Portland, Ore., May 3 – ION Trading Technologies Sarl priced a $450 million issue of seven-year senior secured notes (B3/B) at par to yield 5¾% on Monday, according to an informed source.
The yield printed in the middle of yield talk in the 5¾% area.
Credit Suisse Securities (USA) LLC was the left lead bookrunner. Standard Chartered Bank was a joint bookrunner.
The software provider of trading, treasury and workflow solutions plans to use the proceeds to fund its acquisition of DASH Financial.
| Issuer: | ION Trading Technologies Sarl
|
| Amount: | $450 million
|
| Maturity: | May 15, 2028
|
| Securities: | Senior secured notes
|
| Left bookrunner: | Credit Suisse Securities (USA) LLC
|
| Joint bookrunner: | Standard Chartered Bank
|
| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Spread: | 448 bps
|
| First call: | May 15, 2024 at 102.875
|
| Trade date: | May 3
|
| Settlement date: | May 7
|
| Ratings: | Moody's: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5¾% area
|
| Marketing: | Roadshow
|
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