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Elior upsizes to €550 million, sets final pricing on five-year senior notes at 3¾%
By Paul A. Harris
Portland, Ore., July 1 – Elior Group SA upsized its offering of five-year senior notes (Ba3/expected BB-) to €550 million from €500 million and set final talk at 3¾%, inside of guidance in the low 4% area, according to market sources.
The deal, with which the Paris-based food service and catering contractor is making its debut in the high-yield bond market, is expected to price before the end of the week.
BNP Paribas is managing the offering.
The notes come with two years of call protection.
Proceeds will be used to refinance Elior's term loan and for general corporate purposes.
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