CMA CGM sets roadshow for €300 million eight-year notes offering

By Paul A. Harris

Portland, Ore., Oct. 13 – France-based container ship company CMA CGM SA plans to market a €300 million offering of eight-year senior notes (expected ratings B3/B-) on Monday and Tuesday, according to a market source.

Joint global coordinator BNP Paribas will bill and deliver for the Rule 144A and Regulation S deal. HSBC is also a joint global coordinator. Credit Agricole CIB, ING, SG CIB and UniCredit Bank are the joint bookrunners.

The notes come with three years of call protection and feature a 40% equity clawback and a 101% poison put.

The company, which is based in Marseille, plans to use the proceeds to repay bank debt.

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