Evoca talks €550 million five-year secured floaters at Euribor plus 525 bps at 97.5-98

By Abigail W. Adams

Portland, Me., March 26 – Italy’s Evoca SpA talked its €550 million offering of five-year senior secured floating-rate notes (B3/B-/B-) at Euribor plus 525 basis points and a discounted offer price of 97.5 to 98, according to a market source.

Pricing is expected during the March 25 week.

The notes come with one year of call protection.

Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are joint global coordinators and lead bookrunners for the Rule 144A and Regulation S offering.

BofA Securities Inc., Credit Agricole CIB, IMI Intesa Sanpaolo and J.P. Morgan Securities LLC are also bookrunners.

The Milan-based supplier of equipment and technology to the home and retail coffee industry plans to use the proceeds plus balance sheet cash to redeem its €550 million outstanding of senior secured floating-rate notes due 2026 at par plus accrued and unpaid interest.

© 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.