InfoPro sets initial talk on €975 million offering of five-year fixed- and floating-rate notes

By Paul A. Harris

Portland, Ore., June 7 – InfoPro Digital set initial price talk in its €975 million two-part offering of IPD 3 BV five-year notes (expected ratings B2/B/B+) on Wednesday, according to market sources.

The Rule 144A and Regulation S deal includes fixed-rate notes, which become callable after two years at par plus 50% of the coupon, with initial talk set at 8½% to 8¾%.

The deal also includes floating-rate notes, which become callable after one year at par, talked with a 500 basis points spread to Euribor at 97.5 to 98.

Tranche sizes remain to be determined.

One-on-one calls with investors were scheduled to continue through Wednesday.

Global coordinators BNP Paribas and JPMorgan are the joint physical bookrunners.

Joint bookrunners BofA, Deutsche Bank and Morgan Stanley are also global coordinators.

The London-based business-to-business software, media and technology company plans to use the proceeds to pay off the IPD 3 BV notes coming due in 2025 and to repay certain shareholder notes.

The notes offering comes in conjunction with the acquisition of InfoPro Digital by TowerBrook Investors Fund VI, together with co-investors and management.

© 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.