By Paul A. Harris
St. Louis, March 4 - IT Holding Finance SA priced a €35 million add-on to its 9 7/8% senior notes (B3/B+) due Nov. 15, 2012 at 100.50, according to an informed source.
Price talk was 100 to 100.50.
Merrill Lynch & Co. and Banca IMI ran the books for the Regulation S add-on.
Proceeds will be used to refinance debt maturing in 2005.
The original €150 million issue priced at 96.645 on Oct. 21 to yield 10½% in a transaction that was downsized by €35 million from €185 million.
IT Holding is a Milan, Italy-based holding company for fashion brands, including Versace, Dolce & Gabbana and Roberto Cavalli.
| Issuer: | IT Holding Finance SA
|
| Amount: | €35 million
|
| Maturity: | Nov. 15, 2012
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| Security description: | Add-on to the 9 7/8% senior notes
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| Bookrunners: | Merrill Lynch & Co., Banca IMI
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| Coupon: | 9 7/8%
|
| Price: | 100.50
|
| Call protection: | Non-callable for the life of the bond
|
| Trade date: | March 4
|
| Settlement date: | March 18 with accrued interest
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
| Price talk: | 100-100.50
|
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