Darty tightens talk on €250 million seven-year notes, now at 5 7/8%-6% yield, pricing Wednesday

By Paul A. Harris

Portland, Ore., Feb. 19 - Darty Financements SAS tightened the yield talk on its €250 million offering of seven-year senior notes on Wednesday, according to a market source.

Revised talk has the notes pricing with a yield of 5 7/8% to 6%. Earlier yield talk was 6% to 6¼%.

The Rule 144A for life and Regulation S deal is set to price Wednesday.

Joint bookrunner BNP Paribas Securities Corp. will bill and deliver. Credit Agricole CIB and HSBC Securities are also joint bookrunners. Barclays, Natixis Securities and SG CIB are bookrunners.

Proceeds, along with borrowings under a new credit facility, will be used to repay Darty's existing €455 million revolver.

Darty Financements is a wholly owned subsidiary of Darty plc, a London-based electronics retailer formerly known as Kesa Electricals plc, which operates 400 stores in France, the Netherlands, Belgium, the Czech Republic, Slovakia and Turkey.

© 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.