Germany’s HSE to price €630 million guaranteed secured notes due 2026

By Rebecca Melvin

Concord, N.H., April 23 – HSE Finance Sarl plans to price €630 million of guaranteed secured notes due 2026 (expected ratings: B2/B/), according to an exchange notice.

Guarantors of the notes are HSE24 International GmbH, HSE24 Multichannel GmbH, HSE24 Trading GmbH, HSE24 Finance & Services GmbH, HSE24 Beteiligungs GmbH and Home Shopping Europe GmbH.

Deutsche Bank AG is the manager of the Rule 144A and Regulation S deal.

The proceeds are expected to be used to refinance debt and fund a €243 million dividend to owner Providence Equity Partners

The home shopping retailer is based in Germany.

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