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Keepmoat talks £260 million five-year notes to yield in 9% area
By Paul A. Harris
Portland, Ore., Sept. 25 – Keepmoat Group talked its £260 million offering of five-year secured notes to yield in the 9% area, according to a market source.
The roadshow is set to wrap up on Friday.
Joint physical bookrunner Lloyds TSB will bill and deliver. JPMorgan is also a joint physical bookrunner. RBC is also a bookrunner.
The notes come with two years of call protection.
The Doncaster, England-based home builder plans to use the proceeds, along with equity and cash on its balance sheet, to finance the acquisition of the company by TDR Capital and Sun Capital and to repay debt.
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