New Issue: Italy's Gamenet sells €200 million five-year notes at par to yield 7¼%

By Paul A. Harris

Portland, Ore., July 25 - Italian online gaming company Gamenet SpA priced €200 million of five-year senior secured notes (B1/B+/) at par to yield 7¼% on Thursday, according to a market source.

The yield printed on top of yield talk.

Global coordinator and joint bookrunner UBS will bill and deliver. Credit Suisse was also a global coordinator and a joint bookrunner. UniCredit and Banca IMI were also joint bookrunners.

The Rome-based company plans to use the proceeds to repay debt, including shareholder loans.

Issuer:	Gamenet SpA
Amount:	€200 million
Maturity:	Aug. 1, 2018
Securities:	Senior secured notes
Global coordinators:	UBS (bill and deliver), Credit Suisse
Joint bookrunners:	UBS, Credit Suisse, UniCredit, Banca IMI
Coupon:	7¼%
Price:	Par
Yield:	7¼%
First call:	Aug. 1, 2015 at 103.625
Trade date:	July 25
Settlement date:	Aug. 1
Ratings:	Moody's: B1
	Standard & Poor's: B+
Distribution:	Rule 144A and Regulation S with registration rights
Price talk:	7¼% area
Marketing:	Roadshow

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