| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Apcoa Parking Group > News item |
Apcoa Parking sets price talk in €665 million two-part secured notes offer; pricing Wednesday
By Paul A. Harris
Portland, Ore., July 13 – Apcoa Parking Group set price talk in its €665 million two-part offering of 5.5-year senior secured notes (B3/B), according to a market source.
The deal includes fixed-rate notes that become callable after two years at par plus 50% of the coupon, talked to yield 4¾% to 5%, versus initial talk of 5% to 5¼%.
Apcoa is also offering floating-rate notes that become callable after one year at 101, talked at a 500 basis points spread to Euribor, with no Euribor floor, to price at 99.5 to par. The spread is talked at the tight end of the 500 to 525 bps spread talk. The price range is set rich to earlier guidance of 99.5.
Tranche sizes remain to be determined.
The deal is set to price Wednesday.
Left bookrunner and joint global coordinator Barclays will bill and deliver for the Rule 144A and Regulation S deal. NatWest is a joint global coordinator and joint bookrunner. Deutsche Bank is a joint bookrunner.
The issuing entity will be Apcoa Parking Holdings GmbH.
The Stuttgart, Germany-based parking management company plans to use the proceeds to repay debt and fund cash to its balance sheet.
© 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.