PeopleCert talks €300 million five-year secured notes at 6% area; pricing Thursday

By Paul A. Harris

Portland, Ore., July 28 – PeopleCert talked its €300 million offering of five-year senior secured notes (B2) to yield in the 6% area, according to market sources.

The deal is set to price on Thursday.

Global coordinator and bookrunner Morgan Stanley will bill and deliver.

The notes come with two years of call protection.

Proceeds will be used to repay a bridge loan that was funded to partially finance the acquisition of Axelos Ltd., and to repay debt.

The issuing entity will be PeopleCert Wisdom Issuer plc.

London-based PeopleCert provides assessment and certification of professional skills for governments and private companies and organizations.

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