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Prospect News home > News index > List of issuers A > Headlines for ATU Auto-Teile-Unger Handels GmbH & Co. KG > News item |
A.T.U. €150 million 10-year notes talked at Euribor plus 725-750 basis points
By Paul A. Harris
St. Louis, Sept. 23 - Price talk on A.T.U. REI's (Auto-Teile-Unger) €150 million offering of 10-year senior floating-rate notes (B3/B-) emerged Thursday at three-month Euribor plus 725 to 750 basis points, according to an informed source.
The offering is expected to price on Friday.
Morgan Stanley and HVB are joint bookrunners for the Rule 144A/Regulation S issue, which has no registration rights.
The notes will become callable after one year at 103, with the call declining annually to 102 and 101.
Proceeds will be used to help fund Kravis Roberts & Co.'s secondary buyout of the company, a subsidiary of Germany-based auto parts retailer Auto-Teile-Unger AG.
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