ION Corporates offers €730 million equivalent dollar, euro five-year secured notes

By Paul A. Harris

Portland, Ore., April 22 – ION Corporates kicked off a $730 million equivalent two-part offering of Helios Software Holdings, Inc. and ION Corporate Solutions Finance Sarl five-year senior secured notes (B2/B) on Monday, according to market sources.

The deal includes dollar-denominated notes with initial guidance in the 9% area. Global coordinator JPMorgan is the left bookrunner. BNP Paribas and UBS are global coordinators and joint bookrunners.

The offering also includes euro-denominated notes with initial guidance in the 8% area. Global coordinator BNP Paribas is the left bookrunner for the euro-denominated notes. JPMorgan and Goldman Sachs are global coordinators and joint bookrunners.

Tranche sizes remain to be determined.

The deal, which was scheduled to be rolled on a Monday morning investor call, will be marketed through Wednesday.

The notes in both tranches come with two years of call protection.

The Dublin-based provider of enterprise software plans to use the proceeds to pay off its $599 million 2028 term loan B, as well as to partially repay its €1.1 billion 2028 term loan B, to fund cash to its balance sheet and for general corporate purposes.

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