By Paul A. Harris
St. Louis, July 5 - Cirsa Capital Lux SA priced €130 million seven-year senior notes (B2/B) at par to yield 7 7/8%, market sources said.
Price talk was 7 ¾% to 8%.
Deutsche Bank Securities ran the books for the Rule 144A/Regulation S issue.
Proceeds will be used to repay debt.
The issuer is a Spanish gaming firm with headquarters in Madrid.
Issuer: | Cirsa Capital Lux SA
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Amount: | €130 million
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Maturity: | July 15, 2012
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Security description: | Senior notes
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Bookrunner: | Deutsche Bank Securities
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Coupon: | 7 7/8%
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Price: | Par
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Yield: | 7 7/8%
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Spread: | 500 basis points
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Call protection: | Non-callable for the life of the bond
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Settlement date: | July 7
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Ratings: | Moody's: B2
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| Standard & Poor's: B
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Price talk: | 7¾% to 8%
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