Arrow Global eyes €250 million eight-year secured floating-rate notes

By Paul Deckelman

New York, March 5 – Arrow Global Finance plc will sell €250 million eight-year senior secured floating-rate notes (BB), high-yield syndicate sources said Monday.

The Regulation S/Rule 144A offering will come to market via J.P. Morgan Securities plc and HSBC bank plc.

The notes will have two years of call protection.

Arrow Global Finance is a subsidiary of Arrow Global Group plc, a Manchester, U.K.-based company that purchases debt from banks, credit card companies and telecommunications businesses.

It plans to use the proceeds from the note s to refinance its existing €230 million senior secured floating-rate notes due 2023.

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