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Masorange to privately place €500 million minimum five-year secured notes; guidance 5¾%
By Paul A. Harris
Portland, Ore., April 17 – A portion of the financing to support the combination of Orange Spain with MasMovil JV into Masorange will come in the form of a €500 million minimum private placement of five-year senior secured notes, according to a market source.
Initial guidance is 5¾%.
The notes will come with two years of call protection.
Timing remains to be announced.
BofA and BNP Paribas are the placement agents.
The private placement of notes comes along side $400 million minimum and €400 million minimum new term loans B, which will also support the Masorange combination. Loan commitments are due Wednesday.
Masorange will be based in Spain.
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