By Paul A. Harris
Portland, Ore., Sept. 28 – Italian information technology services provider Almaviva SpA priced a €250 million issue of five-year senior secured notes (B2/B+) at par to yield 7¼% on Thursday, according to a market source.
The yield printed at the tight end of the 7¼% to 7½% yield talk.
Goldman Sachs managed the sale.
Proceeds will be used to refinance debt.
| Issuer: | Almaviva SpA
|
| Amount: | €250 million
|
| Maturity: | Oct. 15, 2022
|
| Securities: | Senior secured notes
|
| Manager: | Goldman Sachs
|
| Coupon: | 7¼%
|
| Price: | Par
|
| Yield: | 7¼%
|
| First call: | Oct. 15, 2019 at 103.625
|
| Trade date: | Sept. 28
|
| Settlement date: | Oct. 6
|
| Ratings: | Moody's: B2
|
| S&P: B+
|
| Price talk: | 7¼% to 7½%
|
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