By Paul A. Harris
Portland, Ore., March 8 – Belgium-based Azelis Group NV priced a €400 million issue of five-year senior notes (BB+/BB+) at par to yield 5¾% on Wednesday, according to market sources.
The yield printed at the tight end of the 5¾% to 6% yield talk. Initial guidance was 6% to 6¼%.
Joint bookrunner JPMorgan will bill and deliver. HSBC and ING are also bookrunners.
The Antwerp-based specialty chemicals and food ingredients supplier plans to use the proceeds for general corporate purposes, including bolt-on mergers and acquisitions, as well as to refinance debt.
| Issuer: | Azelis Group NV
|
| Amount: | €400 million
|
| Issue: | Senior notes
|
| Tenor: | Five years
|
| Bookrunners: | JPMorgan (bill and deliver) HSBC and ING
|
| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Call protection: | Two years
|
| Trade date: | March 8
|
| Settlement date: | March 15
|
| Ratings: | S&P: BB+
|
| Fitch: BB+
|
| Distribution: | Rule 144A
|
| Price talk: | 5¾% to 6%
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
