By Paul A. Harris
St. Louis, June 18 - French spirits distiller Remy Cointreau priced a €205 million issue of 5.18% 6.5-year senior notes (Ba2/BB-/) at 97.745 to yield 5.6% on Friday, according to an informed source.
The yield printed tight to the 5 5/8% area price talk.
Credit Suisse and Credit Agricole CIB were the joint bookrunners for the quickly shopped deal.
Proceeds will be used to redeem the company's 5.2% senior notes due 2012 in a concurrent tender offer and to redeem any notes remaining outstanding after the tender.
| Issuer: | Remy Cointreau (Remy Cointreau SA)
|
| Face amount: | €205 million
|
| Proceeds: | €200.38 million (approximate)
|
| Maturity: | Dec. 15, 2016
|
| Securities: | Senior notes
|
| Bookrunners: | Credit Suisse, Credit Agricole CIB
|
| Coupon: | 5.18%
|
| Price: | 97.745
|
| Yield: | 5.6%
|
| Spread: | 357 bps
|
| Call protection: | Make-whole call at Treasuries plus 50 bps
|
| Trade date: | June 18
|
| Settlement date: | June 28
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB-
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 5 5/8% area
|
| Marketing: | Quick-to-market
|
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