By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – Stagwell Inc. priced a $50 million add-on to its 5 5/8% eight-year senior notes (B3/B) at par on Wednesday, according to a news release.
The company priced an initial $1 billion of the notes on Aug. 12.
The notes were issued via Midas Opco Holdings LLC.
The New York-based marketing services provider plans to use the proceeds of the add-on to pay down its credit facility and for general corporate purposes.
| Issuer: | Midas Opco Holdings LLC
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| Amount: | $50 million add-on
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| Maturity: | Aug. 15, 2029
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| Securities: | Senior notes
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| Coupon: | 5 5/8%
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| Price: | Par
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| Yield: | 5 5/8%
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| Call protection: | Three years
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| Pricing date: | Aug. 25
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| Ratings: | Moody's: B3
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| S&P: B
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| Distribution: | Rule 144A and Regulation S
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| Original issue: | $1 billion priced on Aug. 12
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