Spanish cableco Ono has priced €260m (US$355m) of seven-year high-yield notes at 98.69%.
The offering carries a coupon of 8.5%, with the proceeds being used to prepay a portion of Facility A of Ono’s senior facility. The cableco said that now no…
Spanish cableco Ono has priced €260m (US$355m) of seven-year high-yield notes at 98.69%.
The offering carries a coupon of 8.5%, with the proceeds being used to prepay a portion of Facility A of Ono’s senior facility. The cableco said that now no amortisation payments will be due under the facility until 2016.
The global coordinators for the issuance are Deutsche Bank, BBVA and ING, alongside joint bookrunners Bankia, BNP Paribas, Bank of America Merrill Lynch, Credit Agricole, JP Morgan, Santander, and Societe Generale.
The new notes tranche will be secured on a pari passu basis with other loans under the facility.
Fitch rated the offering BB-.