La Doria markets €500 million long five-year secured floaters

By Abigail W. Adams

Portland, Me., April 26 – La Doria SpA kicked off a €500 million offering of long five-year senior secured floating-rate notes (/B/B+) with a global investor call on Friday, according to a market source.

Small group meetings will be held through April 30 with pricing expected thereafter.

Deutsche Bank Securities Inc. is leading the Rule 144A and Regulation S offering.

Proceeds will be used to fully refinance the company’s €346 million bank debt due 2028 and 2029, to fund a €125 million one-off dividend payment to its shareholders and for general corporate purposes.

La Doria is a Salerno, Italy-based canned food company.

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