| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers A > Headlines for Avolta AG > News item |
Avolta/Dufry tightens talk on €500 million seven-year senior notes to 4¾%-4 7/8%; pricing Tuesday
By Paul A. Harris
Portland, Ore., April 9 – Avolta finalized talk on its €500 million offering of Dufry One BV seven-year senior notes (expected ratings Ba2/BB+) at 4¾% to 4 7/8% and added that it will price within that range, according to market sources.
Final talk comes tight to earlier talk in the 5% area. Initial guidance was in the low-5% area.
The deal is set to price on Tuesday.
The Regulation S notes come with three years of call protection.
Joint physical bookrunner HSBC will bill and deliver. IMI, ING and UniCredit are also joint physical bookrunners.
Banca Akros, Bank of China, BBVA, Commerzbank, LBBW, Mediobanca, RBI, Raiffeisen Schweiz, Santander and UBS are joint bookrunners.
Avolta, a Basel, Switzerland-based retail services provider for travelers, formerly known as Dufry Group, expects to use the proceeds plus cash on hand and borrowings under its revolver to refinance its 2½% senior notes due 2024 via a concurrent tender offer.
© 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.