November 29, 2017 / 10:42 AM / 7 months ago

Stockmann books over EUR300m, talk tightened 25bp

* Books over EUR300m. Guidance 5% area (+/-12.5bp). (10:29am)

* IPTs 5.25% area (coupon, tbp at par) for min EUR200m size. Pricing today. Due 11 Jan 2022, first call 11 Jul 2019, pay 11 Dec, standalone docs, Finnish law, Nasdaq Helsinki listing, 100k/1k denoms, ISIN FI4000292719. OP is B&D. (8:38am)

* Roadshow concluded Tuesday. Balance of feedback in the high 4% to low 5% range. Early consent fee deadline Nov 24 2pm. Noteholder meeting to be held Nov 28, new issue to follow subject to passing of the proposal in the NHM and market conditions. (Nov 23)

Stockmann Oyj Abp has mandated Danske Bank, Nordea Bank and OP Corporate Bank as coordinators, and DNB, Handelsbanken and Swedbank as lead managers to arrange investor meetings ahead of a EUR200m long 4yr senior secured issue. Proceeds will be used primarily to refi EUR150m 3.375% notes due 2018 (ISIN: FI4000051057), with the remainder to refi other existing indebtedness. (Nov 16)

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