CapitalStructure

Welltec prices USD 325m 7-year NC3 senior...

The USD 325m 7-year NC3 senior secured note issue from Denmark-based well intervention services provider Welltec A/S has priced at 97.402 to yield 8.50%. Price talk was released yesterday at 8.25% area. As previously reported, the deal attracted good interest from US investors, at whom the main marketing thrust was aimed and where the company...Read more

Informal Petroplus bondholder group forms;...

An informal Petroplus bondholder group is in the process of being formed after yesterday’s bondholder update call hosted by law firm Kirkland & Ellis. “Kirkland has made contact with the administrator [PwC] and the plan is to organise a group and take steps to protect the value of the guarantee claims into the UK Company which is...Read more

Orange Switzerland preps bond launch;...

Pre-deal research for Orange Switzerland has been distributed by Credit Suisse ahead of the launch of the bond issues that back Apax Partners' LBO of the business. “We are readying for an imminent launch and are gearing up investors ahead of that,” said a source close to the deal. As reported previously, the notes comprise a CHF 325m...Read more

Codere roadshow starts in London on...

Codere has launched a USD 250m seven-year NC3 senior note via Credit Suisse, Barclays and ITAU Unibanco. The marketing process starts on Thursday (26 January) with a breakfast at Claridge's hotel in London before moving on the US. The bulk of the proceeds will be used to finance the c. USD 200m acquisition of 35.8% of Mexican leisure firm ICELA...Read more

Numericable secures lender consent to...

Numericable has secured lender consent to increase the yield caps on its planned fixed and floating senior secured and/or subordinated bond issues. Despite initial grumblings from some lenders, more than the two-thirds needed to pass the request consented by yesterday's deadline. "There was initial pushback but in the end we decided not to...Read more

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CapitalStructure is an independent provider of insightful first-to-market news on and analysis of the European sub-investment grade space. Our emphasis is multi-sourcing to ensure we only publish accurate value-added intelligence to our client base of fund managers, proprietary trading desks, leveraged finance bankers, corporate restructuring advisors and private equity sponsors.

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