EG Group starts roadshow for $1.6 billion equivalent dollar-, euro-denominated five-year notes

Chicago, Nov. 6 – EG Group, through issuer EG Global Finance plc, is conducting a roadshow for a $1.6 billion equivalent dollar- and euro-denominated offering of five-year senior secured notes (expected B3/B-/B+), according to market sources.

An investor call is being held Monday morning with investor meetings through Wednesday.

Pricing is whispered in the 11½% area, according to a trader.

The tranche sizes have not yet been set, but each tranche should be at least either $500 million or €500 million.

There will be two years of call protection, and then a call option at par plus 50% of the coupon, then 25% of the coupon and then finally a par call.

Proceeds will be used, with a new term loan B add-on in both euros and dollars also, to redeem existing notes.

The joint global coordinators and physical bookrunners for the Rule 144A and Regulation S offering are Barclays (left lead, billing and delivery), JPMorgan and BofA Securities.

The listed joint bookrunners also include Deutsche Bank, Goldman Sachs, HSBC, ING, Lloyds, Morgan Stanley, Rabobank, SMBC and UBS.

The notes will be listed on The International Stock Exchange.

EG Group is a Blackburn, U.K.-based convenience retail and fuel station company.

Paul A. Harris contributed to this story.

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