IMA to price €200 million add-on to secured floaters due 2029; early guidance 100.25 area

By Abigail W. Adams

Portland, Me., April 29 – IMA Industria Macchine Automatiche SpA plans to price a base €200 million add-on to its senior secured floating-rate notes due 2029 with early guidance for a reoffer price in the 100.25 area, according to a market source.

The notes carry a coupon of Euribor plus 375 basis points.

The securities are callable at par on April 15, 2025.

BofA Securities and JPMorgan are bookrunners for the Rule 144A and Regulation S offering.

Proceeds will be used to refinance the company’s senior secured floating-rate notes due 2028.

IMA originally sold €450 million of the floaters (B2/B) on April 11 at par.

IMA Industria Macchine Automatiche is a Bologna, Italy-based designer and assembler of automated machines for the processing and packaging of pharmaceuticals, food, tea, coffee and tobacco.

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