By Paul A. Harris
Portland, Ore., Sept. 21 – Italmatch Chemicals SpA priced a €410 million issue of six-year senior secured floating-rate notes (B3/B) at par with a coupon of Euribor plus 475 basis points on Friday, according to market sources.
The notes were issued via Fire (BC) SpA.
The spread came on top of final spread talk and inside of original talk in the Euribor plus 500 bps area.
Joint global coordinator and joint bookrunner Goldman Sachs International will bill and deliver. BNP Paribas was also a joint global coordinator and joint bookrunner. Citigroup and Credit Agricole CIB were joint bookrunners.
Proceeds will be used to help fund the acquisition of Italmatch, a Genova, Italy-based specialty chemical additive manufacturer, by Bain Capital from Ardian.
| Issuer: | Fire (BC) SpA
|
| Amount: | €410 million
|
| Maturity: | Sept. 30, 2024
|
| Securities: | Senior secured floating-rate notes
|
| Global coordinators: | Goldman Sachs International (bill and deliver), BNP Paribas
|
| Physical bookrunners: | Goldman Sachs International, BNP Paribas
|
| Joint bookrunners: | Citigroup, Credit Agricole CIB
|
| Coupon: | Euribor plus 475 bps
|
| Price: | Par
|
| Yield: | Euribor plus 475 bps
|
| First call: | Sept. 30, 2019 at 101
|
| Trade date: | Sept. 21
|
| Settlement date: | Sept. 28
|
| Ratings: | Moody's: B3
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Euribor plus 475 bps, from Euribor plus 500 bps area
|
| Marketing: | Roadshow
|
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