Inter Media sets talk on €415 million five-year notes at 6¾%-7%; roadshow ends Wednesday

By Paul A. Harris

Portland, Ore., Jan. 26 – Inter Media and Communication SpA set initial guidance for its €415 million offering of five-year senior secured notes (//B+) at 6¾% to 7%, according to market sources.

A roadshow that began earlier in the week was expected to wrap up on Wednesday, a source said.

Goldman Sachs is the bookrunner for the Rule 144A and Regulation S offering. Banca IMI is the co-manager.

The notes become callable after two years at par plus 50% of the coupon.

Proceeds will be used to redeem outstanding senior secured notes due 2022, to repay the company’s revolving credit facility, to fund secured accounts with respect to the notes and to pay related fees and expenses.

The prospective issuer is a unit of Football Club Internazionale Milano SpA.

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