By Paul A. Harris
Portland, Ore., Sept. 4 - Orange Switzerland priced a CHF 180 million issue of seven-year senior secured floating-rate notes at par to yield three-month Swiss franc Libor plus 537.5 basis points on Tuesday, according to a market source.
The yield printed at the tight end of price talk set at Libor plus 550 bps.
Global coordinator and joint bookrunner Credit Suisse will bill and deliver. Deutsche Bank AG was also a global coordinator and joint bookrunner.
UBS, Citigroup, JPMorgan and Morgan Stanley were also joint bookrunners.
The Arcueil, France-based wireless telecommunications company plans to use the proceeds to repay its existing term loan A and to repay a share premium.
| Issuer: | Matterhorn Mobile SA (Orange Switzerland)
|
| Amount: | CHF 180 million
|
| Maturity: | May 15, 2019
|
| Securities: | Senior secured floating-rate notes
|
| Bill and deliver: | Credit Suisse
|
| Global coordinators: | Credit Suisse, Deutsche Bank AG
|
| Joint bookrunners: | Credit Suisse, Deutsche Bank, UBS, Citigroup, JPMorgan, Morgan Stanley
|
| Coupon: | Three-month CHF Libor plus 537.5 bps
|
| Price: | Par
|
| Yield: | Three-month CHF Libor plus 537.5 bps
|
| First call: | Callable in February 2013 at 102
|
| Trade date: | Sept. 4
|
| Settlement date: | Sept. 11
|
| Distribution: | Rule 144A and Regulation S for life
|
| Price talk: | CHF Libor plus 550 bps
|
| Marketing: | Quick to market
|
© 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.
