Bahrain's Investcorp seen pricing 5-yr bond Wednesday
Tuesday, 23 October 2012
DUBAI: Investcorp, the Bahrain-based alternative asset manager, has set early price guidance for its upcoming five-year bond, which will be worth at least $250 million, arranging banks said on Tuesday.
Price talk for the deal was released at the low 8 percent area for the senior, unsecured notes, to be structured under the 144a/Reg S format, meaning it will be open for qualified institutional investors in the United States.
Final pricing is expected on Wednesday. The investment company concluded roadshows earlier this week.
Bank of America Merrill Lynch, Citigroup, Credit Suisse, ING, JP Morgan and Royal Bank of Scotland are mandated arrangers on the deal.
Investcorp, which previously took luxury brands Gucci and Tiffany & Co public, had $11.5 billion in assets under management as at June 30, 2012. (Reuters)