By Paul A. Harris
Portland, Ore., Nov. 27 – Raffinerie Heide GmbH priced €250 million five-year senior secured notes (B3/B) at par to yield 6 3/8%, according to a market source.
The yield printed in the middle of the 6¼% to 6½% yield talk.
Joint bookrunner Credit Suisse will bill and deliver.
The Hemmingstedt, Germany-based refiner plans to use the proceeds to fund a dividend to its shareholders.
| Issuer: | Raffinerie Heide GmbH
|
| Amount: | €250 million
|
| Maturity: | Dec. 1, 2022
|
| Securities: | Senior secured notes
|
| Bookrunners: | Credit Suisse (bill and deliver), Commerz
|
| Coupon: | 6 3/8%
|
| Price: | Par
|
| Yield: | 6 3/8%
|
| Call protection: | Two years
|
| Ratings: | Moody's: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 6¼% to 6½%
|
| Marketing: | Roadshow
|
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