By Paul A. Harris
Portland, Ore., March 24 – Adler Pelzer Group priced a €350 million issue of seven-year senior secured notes (B1/B+) at par to yield 4 1/8% on Friday, according to a market source.
The yield printed at the tight end of yield talk in the 4¼% area.
JPMorgan was the lead bookrunner.
The Bad Durrenberg, Germany-based producer of automotive acoustic systems and trim parts plans to use the proceeds to refinance debt.
Issuer: | Adler Pelzer Group
|
Amount: | €350 million
|
Tenor: | Apri1 1, 2024
|
Securities: | Senior secured notes
|
Bookrunner: | JPMorgan
|
Coupon: | 4 1/8%
|
Price: | Par
|
Yield: | 4 1/8
|
Call protection: | Three years
|
Trade date: | March 24
|
Settlement date: | April 6
|
Ratings: | Moody's: B1
|
| S&P: B+
|
Price talk: | 4¼% area
|
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.