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Spain's El Corte Ingles shops €400 million 3.5-year senior notes with 3¾%-4% initial talk
By Paul A. Harris
Portland, Ore., Sept. 29 – Madrid-based department store group El Corte Ingles SA plans to sell €400 million of 3.5-year senior notes, according to market sources.
Initial guidance has the notes coming to yield 3¾% to 4%.
Bankia, BBVA, BNP Paribas, Caixa, Credit Agricole, Goldman Sachs, JPMorgan, Sabadell, Santander, SG, UniCredit, Commerzbank and Intesa are the underwriters.
The notes come with 1.5 years of call protection.
Proceeds will be used for general corporate purposes, including debt repayment.
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