Deals of the year 2009: CEE – CEDC cheers market with high-yield fillip

February 07, 2010

Polish beverages producer taps taste for CEE sub investment-grade paper.

CEDC Finance Corp International Inc
Rating: B1/B+
Maturity: December 1 2016
Tranche 1
Amount: €380 million
Call option: Callable at 104.438 from December 1 2013, at 102.219 from December 1 2014, and then at par from December 1 2015
Equity clawback option: up to 35% until December 1 2013 at 108.875
Issue/re-offer price: 99.361
Spread at re-offer: 614bp over 3.75% Bund due January 4 2017
Coupon: 8.875%
Tranche 2
Amount: $380 million
Call option: Callable at 104.563 from December 1 2013, at 102.281 from December 1 2014 and then at par from December 1 2015
Equity clawback option: up to 35% until December 1 2013 at 109.125