By Rebecca Melvin
New York, Jan. 29 – Techem Verwaltungsgesellschaft 675 mbH priced €1,145,000,000 of 5.5-year senior notes (B1/B+) at par to yield 2%, according to a post-stabilization notice on Wednesday.
Techem 675 is a wholly owned subsidiary of Techem Verwaltungsgesellschaft 674 mbH, and the new notes are guaranteed by Techem Energy Contracting GmbH, Techem Energy Services GmbH, Techem GmbH and Techem Metering GmbH.
The yield printed at a spread of 251 basis points over the benchmark.
Deutsche Bank AG, London Branch was the stabilization manager of the Rule 144A and Regulation S transaction.
The provider of maintenance and repair services for electricity networks is based in Germany.
| Issuer: | Techem Verwaltungsgesellschaft 675 mbH
|
| Guarantors: | Techem Energy Contracting GmbH, Techem Energy Services GmbH, Techem GmbH and Techem Metering GmbH
|
| Amount: | €1,145,000,000
|
| Maturity: | July 15, 2025
|
| Securities: | Senior notes
|
| Manager: | Deutsche Bank AG, London Branch
|
| Coupon: | 2%
|
| Price: | Par
|
| Yield: | 2%
|
| Spread: | 251 bps over benchmark
|
| Ratings: | Moody's: B1
|
| S&P: B+
|
| Distribution: | Rule 144A and Regulation S
|
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