Chicago, June 24 – French retailer BUT SAS sold €500 million of 4¼% senior secured notes due July 15, 2028 (B3//B), according to a press release.
The notes were being talked to yield 4¼% to 4½%, tight to initial guidance in the mid-to-high 4% area, according to a market source.
The issuing entity will be holding company Mobilux Finance SAS.
The notes will be guaranteed by parent Mobilux 2 SAS, Mobilux Acquisition SAS, Decomeubles Partners SAS, BUT SAS, BUT International SAS and Cogesem SAS.
The notes come with three years of call protection.
The Rule 144A and Regulation S deal was led by global coordinator and physical bookrunner BNP Paribas.
Proceeds will be used primarily to redeem the company’s €380 million 5½% senior secured notes due 2024 and to make a distribution to Mobilux 2 shareholders.
Mobilux acquired the Emerainville, France-based furniture retailer in November 2016.
| Issuer: | Mobilux Finance SAS
|
| Guarantors: | Mobilux 2 SAS, Mobilux Acquisition SAS, Decomeubles Partners SAS, BUT SAS, BUT International SAS and Cogesem SAS
|
| Issue: | Senior secured notes
|
| Amount: | €500 million
|
| Maturity: | July 15, 2028
|
| Bookrunners: | BNP Paribas
|
| Coupon: | 4¼%
|
| Call features: | Three years
|
| Trade date: | June 23
|
| Settlement date: | June 29
|
| Ratings: | Moody’s: B3
|
| Fitch: B
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Yield of 4¼% to 4½%; initial guidance in the mid-to-high 4% area
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
