By Paul A. Harris
Portland, Ore., Oct. 27 – CA Magnum Holdings priced a $1.01 billion issue of five-year senior secured notes (B1//BB-) at par to yield 5 3/8% on Wednesday, according to market sources.
The yield printed 12.5 basis points through the 5½% to 5¾% yield talk. Initial guidance was 5¾% to 6%.
The deal, backing the buyout of India-based Hexaware Technologies by Carlyle Group, was heard to be well-oversubscribed.
Goldman Sachs and HSBC were the joint global coordinators. Joint bookrunners were Barclays, BNP Paribas, Citigroup, MUFG, Nomura and Standard Chartered.
Proceeds plus equity will be used to fund the $3 billion buyout of Hexaware.
| Issuer: | CA Magnum Holdings
|
| Amount: | $1.01 billion
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| Maturity: | Oct. 31, 2026
|
| Securities: | Senior secured notes
|
| Global coordinators: | Goldman Sachs and HSBC
|
| Joint bookrunners: | Barclays, BNP Paribas, Citigroup, MUFG, Nomura and Standard Chartered
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Spread: | 421 bps
|
| Call protection: | Two years
|
| Trade date: | Oct. 27
|
| Settlement date: | Nov. 3
|
| Ratings: | Moody's: B1
|
| Fitch: BB-
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | 5½% to 5¾%
|
| Marketing: | Roadshow
|
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