By Paul A. Harris
Portland, Ore., March 5 – Playtika Holding Corp. priced a $600 million issue of eight-year senior notes (B2/B) at par to yield 4¼% on Friday, according to market sources.
The yield came in the middle of yield talk in the 4¼% area.
BofA is the left bookrunner. Credit Suisse, Citigroup, Morgan Stanley, Goldman Sachs and UBS are joint bookrunners.
The Herzliya, Israel-based developer and publisher of mobile games plans to use the proceeds plus borrowings under its new term loan and cash on the balance sheet to pay off its old term loan.
| Issuer: | Playtika Holding Corp.
|
| Amount: | $600 million
|
| Maturity: | March 15, 2029
|
| Securities: | Senior notes
|
| Left bookrunner: | BofA
|
| Joint bookrunners: | Credit Suisse, Citigroup, Morgan Stanley, Goldman Sachs and UBS
|
| Coupon: | 4¼%
|
| Price: | Par
|
| Yield: | 4¼%
|
| Spread: | 288 bps
|
| Call protection: | Three years
|
| Trade date: | March 5
|
| Settlement date: | March 11
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 4¼% area
|
| Marketing: | Roadshow
|
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