Amer Sports talks $600 million seven-year secured notes at 6¾%-7%; pricing Friday

By Paul A. Harris

Portland, Ore., Feb. 8 – Amer Sports Co. talked its $600 million offering of senior secured notes due 2031 (B1/BB) to yield 6¾% to 7%, according to market sources.

Official talk comes inside of initial guidance in the low-to-mid 7% area.

Books were scheduled to close late Thursday afternoon, and the deal is set to price early Friday morning, New York time.

The Rule 144A and Regulation S for life seven-year notes become callable after three years at par plus 50% of the coupon.

Goldman Sachs is the left bookrunner. JPMorgan, BofA, BNP Paribas and HSBC are the joint bookrunners.

The Helsinki, Finland-based sports equipment company plans to use the proceeds plus new senior secured credit facilities to pay off its outstanding credit facilities.

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