France’s Elis sets roadshow for €800 million seven-year senior notes

By Paul A. Harris

Portland, Ore., April 17 – France-based Elis plans to start a European roadshow on Monday in London for an €800 million offering of senior notes due April 2022, according to a market source.

The roadshow is scheduled to wrap up on Tuesday, and the deal is expected to price thereafter.

Joint global coordinator BNP Paribas will bill and deliver. Deutsche Bank is also a joint global coordinator.

Credit Agricole CIB, HSBC Bank plc and SG CIB are the joint bookrunners.

The Rule 144A and Regulation S notes come with three years of call protection and feature a 101% poison put.

Credit ratings remain to be determined.

Proceeds from the notes, which are in the market via wholly owned subsidiary Novalis SAS, will be used to take out the existing senior secured notes and senior subordinated notes and for general corporate purposes.

The Puteaux, France-based company provides laundry and maintenance services for flat linen and workwear, as well as hygienic and well-being appliances.

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