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Europcar €500 million five-year notes talk finalized at 3%-3 1/8%; pricing Thursday
By Paul A. Harris
Portland, Ore., Sept. 23 – Europcar Mobility Group SA tightened talk on its €500 million offering of five-year sustainability-linked senior secured notes (Caa1/CCC+) to 3% to 3 1/8%, according to market sources.
Final talk was revised from earlier talk of 3¼% to 3½%.
The deal is expected to price on Thursday.
The notes are being issued via subsidiary EC Finance plc.
Joint global coordinator BNP Paribas is the bookrunner. Credit Agricole and HSBC are also joint global coordinators.
Deutsche Bank, ING, Lloyds, Natixis, RBC and SG are joint lead managers.
Proceeds will be used to pay off the EC Finance 2 3/8% senior secured notes due 2022.
Europcar is a Paris-based vehicle rental services provider.
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