EG Group sets roadshow for €1.26 billion equivalent secured notes in dollars and euros

By Paul A. Harris

Portland, Ore., Oct. 4 – England-based EG Group plans to start a roadshow on Monday in New York for a €1.26 billion equivalent offering of six-year senior secured notes (B2/B/B+) coming in tranches of dollar-denominated and euro-denominated notes, according to a market source.

The international roadshow moves to Boston on Tuesday, to London City on Wednesday and to London West End on Thursday. Further details on the deal's marketing remain to be announced.

Left global coordinator Barclays will bill and deliver for the Rule 144A and Regulation S for life offering. Deutsche Bank and Morgan Stanley are joint global coordinators. Goldman Sachs, UBS, ING, Lloyds and Rabo are joint bookrunners.

The notes become callable after two years at par plus 50% of the respective coupons.

The issuing entity is EG Global Finance plc.

The deal comes in relation to the Blackburn, England-based filling station and fast food outlet operator's acquisition of Westborough, Mass.-based Cumberland Farms, which operates convenience stores in the northeastern United States and Florida.

EG plans to use the proceeds generated by the bond sale to fund the purchase consideration to Cumberland Farms’ existing stockholders and to repay $300 million of outstanding Cumberland Farms senior notes due 2025.

© 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.