By Paul A. Harris
Portland, Ore., Jan. 19 – eDreams Odigeo SA priced a €375 million issue of 5.5-year senior secured notes (Caa1/CCC+/B-) at par to yield 5½% on Wednesday, according to market sources.
The yield printed at the tight end of the 5½% to 5¾% yield talk.
Global coordinator Deutsche Bank will bill and deliver. Barclays and Santander were also global coordinators.
The Barcelona, Spain-based travel company plans to use the proceeds plus proceeds from its equity sale to repay debt.
| Issuer: | eDreams Odigeo SA
|
| Amount: | €375 million
|
| Issue: | Senior secured notes
|
| Tenor: | 5.5 years
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| Global coordinators: | Deutsche Bank (bill and deliver), Barclays and Santander
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Spread: | 580 bps
|
| Trade date: | Jan. 19
|
| Ratings: | Moody's: Caa1
|
| S&P: CCC+
|
| Fitch: B-
|
| Price talk: | 5½% to 5¾%
|
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