Finland-based Renta marketing €350 million five-year secured notes backing buyout of company

By Paul A. Harris

Portland, Ore., Jan. 25 – Renta Group Oy plans to sell €350 million of five-year senior secured notes (B2/B), according to market sources.

Global coordinator and joint bookrunner JPMorgan will bill and deliver. Nordea, Deutsche Bank, DNB and SEB are also joint bookrunners.

The Rule 144A and Regulation S notes become callable after two years at par plus 50% of the coupon.

Proceeds plus an equity contribution will be used to fund the acquisition of the Finland-based equipment rental company by IK Partners and to refinance Renta’s debt.

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