New York, Dec. 4 – Lowen Play GmbH priced €350 million of 5 3/8% five-year senior secured notes (B2/B) at par on Monday, according to a market source.
The deal came in the middle of price talk for a yield of 5¼% to 5½%.
JPMorgan and ING were leads for the Rule 144A and Regulation S offering.
Proceeds will be used to repay existing notes and a shareholder loan.
The deal was issued through Safari Verwaltungs GmbH.
Lowen Play is a Bingen am Rhein, Germany-based casino operator.
| Issuer: | Safari Holding Verwaltungs GmbH (Lowen Play GmbH)
|
| Amount: | €350 million
|
| Maturity: | Five years
|
| Leads: | JPMorgan, ING
|
| Coupon: | 5 3/8%
|
| Price: | Par
|
| Yield: | 5 3/8%
|
| Call provision: | After two years
|
| Trade date: | Dec. 4
|
| Ratings: | Moody’s: B2
|
| S&P: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 5¼% to 5½%
|
| Marketing: | Roadshow
|
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