By Paul A. Harris
Portland, Ore., Sept. 21 – Spain’s eDreams Odigeo SA priced an upsized €435 million issue of 8˝% five-year senior secured notes (B3/B) at 98.098 to yield 9% on Wednesday, according to a market source.
The deal size was increased from €435 million.
Orders came from almost 80 investors from the United States, France, Germany, Spain, Italy, United Kingdom and Sweden, according to a company press release.
Global coordinator Deutsche Bank will bill and deliver. Barclays, BBVA and SG CIB were the joint bookrunners.
The Barcelona-based online travel company plans to use the proceeds to redeem the Geo Debt Finance SCA 7˝% senior secured notes due 2018 issued Jan. 31, 2013 and the Geo Travel Finance SCA 10 3/8% senior notes due 2019 issued on April 21, 2011.
| Issuer: | eDreams Odigeo
|
| Amount: | €435 million, increased from €425 million
|
| Maturity: | Aug. 1, 2021
|
| Securities: | Senior secured notes
|
| Global coordinator: | Deutsche Bank (bill and deliver)
|
| Joint bookrunners: | Barclays, BBVA, SG CIB
|
| Co-managers: | CM-CIC, Santander
|
| Coupon: | 8˝%
|
| Price: | 98.098
|
| Yield: | 9%
|
| Call protection: | Two years
|
| Trade date: | Sept. 21
|
| Ratings: | Moody's: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Marketing: | Roadshow
|
© 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.
