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England's VUE plans £550 million two-part secured notes offering
By Paul A. Harris
Portland, Ore., July 9 - London-based cinema chain operator VUE Entertainment expects to price a £550 million equivalent two-part offering of seven-year senior secured notes as early as Thursday, according to a buyside source.
The deal is coming in tranches of sterling-denominated fixed-rate notes and euro-denominated floating-rate notes.
Tranche sizes remain to be determined.
Goldman Sachs International has the books.
Credit ratings in the single B range are anticipated.
Proceeds will be used to fund the leveraged buyout of the company by Alberta Investment Management Corp. and the Ontario Municipal Employees Retirement System.
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