Fives to market €425 million five-year floaters through Thursday

By Paul A. Harris

Portland, Ore., April 16 – France-based engineering group Fives started a roadshow on Tuesday for a €425 million offering of Nova Alexandre III SAS five-year senior secured floating-rate notes (expected ratings B/BB-), according to a syndicate source.

The roadshow runs through Thursday, and the Rule 144A for life and Regulation S notes are set to price thereafter.

The notes become callable after one year.

Joint global coordinator and joint bookrunner BNP Paribas will bill and deliver. Goldman Sachs and SG are also joint global coordinators and joint bookrunners. Natixis is also a joint bookrunner.

Proceeds plus balance sheet cash (as adjusted for an equity increase) will be used to redeem outstanding notes.

© 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.