By Paul A. Harris
Portland, Ore., April 25 – Hibu Group priced a £225 million issue of five-year senior secured notes (B3/B-) at par to yield 8½%, according to a market source.
The notes were issued through Yell Bondco plc.
The yield printed in the middle of yield talk in the 8½% area.
Credit Suisse managed the sale.
Proceeds will be used to repay debt.
Hibu, formerly the Yell Group, is a multinational directories and internet services company based in Reading, England.
| Issuer: | Yell Bondco plc
|
| Amount: | £225 million
|
| Maturity: | Five years
|
| Securities: | Senior secured notes
|
| Lead: | Credit Suisse
|
| Coupon: | 8½%
|
| Price: | Par
|
| Yield: | 8½%
|
| Announcement date: | April 25
|
| Ratings: | Moody’s: B3
|
| S&P: B-
|
| Price talk: | 8½% area
|
| Marketing: | Roadshow
|
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