By Paul A. Harris
Portland, Ore., Jan. 30 - Spanish gaming firm Cirsa Luxembourg SA priced a €100 million add-on to its 8¾% senior notes due May 15, 2018 (B3/B+/) at 99.75 to yield 8.805% on Tuesday, according to a market source.
The reoffer price came at cheap end of the 99.75 to 100.25 price talk.
Deutsche Bank ran the books.
The Madrid-based company plans to use the proceeds to refinance debt and for general corporate purposes.
| Issuer: | Cirsa Luxembourg SA
|
| Amount: | €100 million
|
| Maturity: | May 15, 2018
|
| Security description: | Add-on to 8¾% senior notes due May 15, 2018
|
| Bookrunner: | Deutsche Bank
|
| Coupon: | 8¾%
|
| Price: | 99.75
|
| Yield: | 8.805%
|
| First call date: | May 15, 2014
|
| Trade date: | Jan. 29
|
| Ratings: | Moody's: B3
|
| Standard & Poor's: B+
|
| Price talk: | 99.75 to 100.25
|
| Marketing: | Brief roadshow
|
| Original issue: | €400 million issue priced at 97.8926 to yield 9 1/8% in April 2010
|
| Total issue size: | €500 million
|
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