By Marisa Wong
Los Angeles, Sept. 16 – Itelyum Group priced €450 million of 4 5/8% sustainability-linked senior secured notes due 2026 (B2/B) at par on Wednesday, according to a London Stock Exchange notice.
The issuing entity, Verde Bidco SpA, is a holding company of Itelyum.
The notes were talked to yield 5% to 5¼%, according to a market source.
The notes are non-callable for two years.
Bank of America Securities Europe SA is the manager.
Proceeds will be used to help fund the acquisition of Itelyum by Stirling Square Capital Partners and Deutsche Beteiligungs AG, as previously reported.
Itelyum is an Italy-based chemicals manufacturer.
| Issuer: | Verde Bidco SpA
|
| Description: | Sustainability-linked senior secured notes
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| Amount: | €450 million
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| Maturity: | 2026
|
| Manager: | Bank of America Securities Europe SA
|
| Coupon: | 4 5/8%
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| Price: | Par
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| Yield: | 4 5/8%
|
| Call option: | Non-callable for two years
|
| Pricing date: | Sept. 15
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
| Price talk: | 5%-5¼%
|
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