By Ronda Fears
Nashville, Dec. 4 - SR. Teleperformance sold €138 million of four-year convertible bonds at par to yield 3.25% with a 22% initial conversion premium via joint bookrunners Credit Agricole Indosuez-Credit Lyonnais and HSBC.
The private placement, issued at the upper end of a range between €120 million and €138 million sold, at the middle of yield talk of 3.0% to 3.5% and at the aggressive end of premium guidance of 17% to 22%.
The Paris-based telemarketing firm said proceeds would provide it with the means to finance future internal and external growth in line with its strategy.
Terms of the convertible offering are:
| Issuer: | SR. Teleperformance
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| Issue: | Convertible bonds
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| Lead managers: | Credit Agricole Indosuez-Credit Lyonnais and HSBC
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| Amount: | €138 million
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| Greenshoe: | €20.7 million
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| Maturity: | Jan. 1, 2008
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| Coupon: | 3.25%
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| Price: | Par
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| Redemption Price: | Par
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| Yield: | 3.25%
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| Conversion premium: | 22%
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| Conversion price: | €21.10
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| Conversion ratio: | 47.3934
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| Call: | Non-callable for 3 years, subject to 125% hurdle
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| Price talk: | 3.0-3.5%, up 17-22%
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| Pricing date: | Dec. 3
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| Settlement date: | Dec. 11
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