Phoenix Pharmahandel EUR506M 4-Year Bond To Yield 10%

9th Jul 2010 17:05

LONDON (Dow Jones)--German pharmaceutical distribution company Phoenix Pharmahandel GmbH's new EUR506 million, four-year, high-yield bond is to yield 10%, one of the banks working on the deal said Friday. Joint bookrunners on the deal are Deutsche Bank AG, Bayerische Landesbank, Commerzbank AG, Credit Agricole CIB, Danske Bank AS, Erste Group Bank AG, Helaba, HSBC Holdings PLC, ING, Landesbank Baden-Wuerttemberg, Mediobanca, Nordea Bank AB, Royal Bank of Scotland Group PLC, RZB-Austria Raiffeisen Zentralbank AG, SEB, UniCredit SpA, and WestLB AG. The deal has the following terms: Amount: EUR506,150,000 Maturity: July 15, 2014 Coupon: 9.625% Reoffer Price: 98.7894 Spread: 894 basis points over 2.25% bund due April 2014 Yield: 10% Debt Ratings: B1 (Moody's) CCC (Standard & Poor's) Interest: Semiannual -By Art Patnaude, Dow Jones Newswires; +44 (0) 207 842 9259; [email protected] (END) Dow Jones Newswires July 09, 2010 12:05 ET (16:05 GMT)