By Paul A. Harris
Portland, Ore., July 11 – Paris-based jewelry retailer Thom Europe SAS priced a €345 million issue of 7 3/8% five-year notes (B2/B/) at 99.488 to yield 7½% on Friday, according to a market source.
The yield printed at the wide end of the 7¼% to 7½% yield talk.
A proposed tranche of floating-rate notes was withdrawn.
Global coordinator and physical bookrunner Goldman Sachs International will bill and deliver. Credit Suisse is also a global coordinator and physical bookrunner. SG CIB and Lloyds are joint bookrunners.
Proceeds will be used to repay bank debt.
| Issuer: | Thom Europe SAS
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| Amount: | €345 million
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| Maturity: | Five years
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| Securities: | Senior secured notes
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| Global coordinator: | Goldman Sachs International (bill and deliver, physical bookrunner)
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| Joint bookrunners: | SG CIB, Lloyds
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| Coupon: | 7 3/8%
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| Price: | 99.488
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| Yield: | 7½%
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| Spread: | 722 bps
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| Call protection: | Two years
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| Trade date: | July 11
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| Settlement date: | July 18
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| Ratings: | Moody's: B2
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| Standard & Poor's: B
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | 7¼% to 7½%
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| Marketing: | Roadshow
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