Reuters logo
Viridian group names banks for dual currency HY bond
September 11, 2017 / 7:01 AM / 2 months ago

Viridian group names banks for dual currency HY bond

LONDON, Sept 11 (IFR) - Viridian Group FinanceCo PLC and Viridian Power and Energy Holdings DAC has mandated Deutsche Bank, Barclays and Credit Suisse to lead manage a €600m dual currency bond issue, to be split between euros and sterling (split TBD).

The sterling tranche will be a 7NC3 and the euro a 8NC3, expected to be rated B1/BB-.

UOP is for refinancing of existing indebtedness, payment of a dividend to shareholders and payment of costs, fees and expenses.

Lloyds, Natwest Markets are bookrunners. Monday: London City lunch; Tuesday: London West End breakfast.

Denoms 100K+1K. CoC 101%. Equity claw: 40% of Senior Secured Notes at par plus coupon until 2020. Special call 10% per annum of Senior Secured Notes at 103% until 2020. (Reporting by Helene Durand)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below