By Paul A. Harris
Portland, Ore., Jan. 13 – Amigo Loans priced an upsized £275 million issue of seven-year senior secured notes (B1/B+) at par to yield 7 5/8% on Friday, according to market sources.
The issue size was increased from £250 million.
The yield printed 12.5 basis points inside of the 7¾% to 8% yield talk.
Joint bookrunner JPMorgan will bill and deliver. Jefferies and NatWest Markets were also joint bookrunners.
The Bournemouth, England-based financial technology company plans to use the proceeds to repay its revolving credit facility and partially repay a shareholder loan.
| Issuer: | Amigo Luxembourg SA
|
| Amount: | £275 million, increased from £250 million
|
| Tenor: | Seven years
|
| Securities: | Senior secured notes
|
| Bookrunners: | JPMorgan (bill and deliver), Jefferies, NatWest
|
| Coupon: | 7 5/8%
|
| Price: | Par
|
| Yield: | 7 5/8%
|
| Call protection: | Three years
|
| Trade date: | Jan. 13
|
| Ratings: | Moody's: B1
|
| S&P B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 7¾% to 8%
|
| Marketing: | Roadshow
|
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