France’s Elis taps banks ahead of possible benchmark euro notes offer

By Paul A. Harris

Portland, Ore., Jan. 31 – France-based Elis SA mandated a group of investment banks to arrange meetings with fixed income investors commencing Monday, ahead of a possible benchmark euro-denominated offering of senior notes, pending market conditions, according to a market source.

The notes would come with maturities of five to eight years and be sold in one or two tranches.

BNP Paribas, Credit Agricole CIB and HSBC are the global coordinators. ING, Natixis and SG CIB are active joint bookrunners. BBVA, Commerzbank, Mediobanca and MUFG are passive bookrunners.

Proceeds from the deal would be used to refinance the bridge loan put in place for the acquisition of Berendsen plc and for general corporate purposes, which may include the refinancing of existing debt.

Elis is a Saint-Cloud, France-based multi-services group in Europe and Latin America, specializing in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances.

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