Paris-based Isabel Marant offers €250 million five-year secured notes; initial talk mid-8% area

By Paul A. Harris

Portland, Ore., Feb. 6 – French clothing retailer Isabel Marant (B2/B) expects to price €250 million of IM Group SAS five-year senior secured notes on Tuesday, according to market sources.

Initial guidance has the notes coming to yield in the mid-8% area.

JPMorgan is leading the deal.

The Regulation S notes come with two years of call protection.

The Paris-based company plans to use the proceeds to redeem its senior secured notes due March 2025 as well as to fund a €60 million dividend to its shareholders.

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