Kiloutou expected to price €150 million 4.5-year floater on Tuesday

By Paul A. Harris

Portland, Ore., Jan. 23 – France-based equipment rental company Kiloutou plans to price a €150 million offering of Kapla Holding SAS senior secured floating-rate notes due 2027 (expected B2/confirmed B+) on Tuesday at the conclusion of a brief roadshow, according to market sources.

Initial guidance has the notes pricing with a 550 basis points spread to Euribor. The issue price remains to be determined. There is no Euribor floor.

Global coordinator Credit Agricole CIB will bill and deliver. Natixis is also a global coordinator. SG and BNP Paribas are joint bookrunners.

The Rule 144A and Regulation S notes become callable after one year at 101.

The company plans to use the proceeds to repay the €150 million bridge loan put in place since April 2022 to fund its acquisition of Danish equipment rental company GSV.

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