Published on 9/11/2017 in the Prospect News High Yield Daily.
New Issue: Amigo Loans prices £75 million tap of 7 5/8% secured notes due 2024 at 104.5
By Paul A. Harris
Portland, Ore., Sept. 11 – Amigo Loans Group Ltd. priced a £75 million add-on to the Amigo Luxembourg SA 7 5/8% senior secured notes due 2024 at 104.5 to yield 6.737% in a quick-to-market Monday trade, according to a market source.
The reoffer price came on top of price talk in the 104.5 area.
JPMorgan, Jefferies and NatWest were the managers.
The Bournemouth, U.K.-based financial technology company plans to use the proceeds to repay debt owed under its revolving credit facility and for general corporate purposes.
| Issuer: | Amigo Luxembourg SA (Amigo Loans Group Ltd.)
|
| Face amount: | £75 million
|
| Proceeds: | £78,375,000
|
| Maturity: | 2024
|
| Security description: | Add-on to 7 5/8% senior secured notes due 2024
|
| Bookrunners: | JPMorgan, Jefferies, NatWest
|
| Coupon: | 7 5/8%
|
| Price: | 104.5
|
| Yield to maturity: | 6.737%
|
| Trade date: | Sept. 11
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 104.5 area
|
| Marketing: | Quick to market
|
| Original issue: | £275 million issue priced at par on Jan. 13, 2017
|
| Total issue size: | £350 million
|
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