CBR Fashion sets early talk on €470 million six-year secured notes at 6¾%-7% yield

By Paul A. Harris

Portland, Ore., March 18 – CBR Fashion Group plans to sell €470 million of CT Investment GmbH six-year senior secured notes (B2/B), according to market sources.

Initial guidance has the notes coming to yield 6¾% to 7%.

The deal kicked off on an investor call late Monday morning, London time.

The Rule 144A and Regulation S notes become callable after two years at par plus 50% of the coupon.

Sole physical bookrunner JPMorgan will bill and deliver. Apollo Capital Solutions Europe, Deutsche Bank, Goldman Sachs, Jefferies and UniCredit are the joint bookrunners.

The Isernhagen, Germany-based apparel company plans to use the proceeds to refinance its 5½% senior secured notes due 2026.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.