Arrow Global talks upsized €230 million seven-year notes at Euribor plus 475 bps spread at 98.75

By Paul A. Harris

Portland, Ore., April 14 – Arrow Global Finance plc upsized its offering of seven-year senior secured floating-rate notes to €230 million from €225 million, according to a market source.

The company also talked the deal to price with a 475 basis points spread to Euribor at 98.75, with no Libor floor.

The Rule 144A and Regulation S deal is expected to price Thursday.

Global coordinator and physical bookrunner Goldman Sachs International will bill and deliver. JPMorgan and HSBC are also global coordinators and physical bookrunners.

The notes come with three years of call protection.

The Manchester, England-based purchaser of consumer debt and provider of receivables management solutions plans to use the proceeds to finance the acquisition of InVesting BV, a consumer debt purchaser and collections provider with operations in the Netherlands and Belgium. Proceeds will also be used to repay the drawn revolver and for general corporate purposes.

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