Arqiva talks £625 million five-year notes at 7% area; pricing Friday

By Paul A. Harris

Portland, Ore., Sept. 13 – Arqiva Broadcast Finance plc talked its £625 million offering of five-year senior notes (expected B2//confirmed B-) in the 7% area, according to a London-based sellside source.

The offering is set to price on Friday.

Physical bookrunner BofA Merrill Lynch will bill and deliver for the Regulation S offering. HSBC is also a physical bookrunner. Deutsche Bank, ING and Lloyds are bookrunners.

The notes come with two years of call protection.

The Winchester, England-based provider of broadcast infrastructure plans to use the proceeds to refinance its existing £600 million senior notes due 2020.

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