French vendor Alcatel-Lucent has priced at par a US$250m bond offering due November 2020 via its US subsidiary.
The 6.75% senior notes, issued by Alcatel-Lucent USA, will be guaranteed on a senior unsecured basis by the parent company and some of its…
French vendor Alcatel-Lucent has priced at par a US$250m bond offering due November 2020 via its US subsidiary.
The 6.75% senior notes, issued by Alcatel-Lucent USA, will be guaranteed on a senior unsecured basis by the parent company and some of its subsidiaries.
Net proceeds, along with additional cash, will be used to repay the €298m (US$403.8m) senior secured term loan facility due 2019.
Citibank worked on the transaction, a company spokesperson confirmed.
The Paris-based company is working to strengthen its balance sheet after recording losses of €200m (US$270m), which include restructuring charges of €117m (US$158m).
Earlier this month, it priced US$750m of 6.75% notes due 2020 via the US subsidiary. The company is also conducting a capital increase totalling €956m (US$1.29m), with the subscription period ending on 29 November, and is planning on implementing a €500m (US$675.4m) syndicated revolving credit facility.
The company has mandated Ondra as financial adviser for the total financing package, which will push out the company’s debt maturities to 2016.
