By Paul A. Harris
Portland, Ore., Oct. 26 – German apparel retailer Takko Group priced €510 million of senior secured notes due 2023 (B2/B) in two tranches on Thursday, according to a market source.
The deal included €285 million of 5 3/8% fixed-notes notes and €225 million of Euribor plus 537.5 basis points floating-rate notes.
Global coordinator and joint bookrunner Deutsche Bank will bill and deliver. Credit Suisse, UniCredit Bank and Credit Agricole CIB were also joint global coordinators and joint bookrunners. Goldman Sachs International was also a joint bookrunner.
Proceeds, together with cash on hand, will be used to redeem the company's existing senior secured notes in full.
The company is based in Munster, Germany.
| Issuer: | Takko Luxembourg 2 SCA
|
| Amount: | €510 million
|
| Maturity: | 2023
|
| Joint global coordinators: | Deutsche Bank (bill and deliver), Credit Suisse, UniCredit Bank and Credit Agricole CIB
|
| Joint bookrunner: | Goldman Sachs International
|
| Trade date: | Oct. 26
|
| Settlement date: | Nov. 9
|
| Ratings: | Moody's: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Roadshow
|
|
|
| Fixed-rate notes
|
| Amount: | €285 million
|
| Coupon: | 5 3/8%
|
| Call protection: | Two years
|
|
|
| Floating-rate notes
|
| Amount: | €225 million
|
| Coupon: | Euribor plus 537.5 bps
|
| Euribor floor: | 0%
|
| Call protection: | One year
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
