Germany's Phoenix Plans EUR500M 4-Yr High Yield Bond

5th Jul 2010 10:59

LONDON (Dow Jones)--German pharmaceutical distribution company Phoenix Pharmahandel GmbH is planning a EUR500 million, four year high yield bond, with proceeds to be used for repaying debt, a bank working on the deal said Monday. Roadshows for the senior notes will begin in Frankfurt Monday, before moving on to Dusseldorf, Amsterdam, Edinburgh, London and Paris during the remainder of the week. Deutsche Bank AG, BayernLB, Commerzbank AG, Credit Agricole CIB, Danske Bank, Erste Group Bank AG, Helaba, HSBC Holdings PLC, ING, Landesbank Baden-Wurttemberg, Mediobanca, Nordea, Royal Bank of Scotland Group PLC, RZB-Austria Raiffeisen Zentralbank AG, SEB, UniCredit SpA, and WestLB AG are joint-bookrunners on the deal. The issue is expected to be rated B1 by Moody's Investors Service and B- by Standard & Poor's Corp. By Ainsley Thomson, Dow Jones Newswires; 44 20 7842 9318; [email protected] (END) Dow Jones Newswires July 05, 2010 05:59 ET (09:59 GMT)