Alcatel taps seven year high yield bond for another $250m

Alcatel Lucent, the US-French telecoms equipment producer, has tapped its 6.75% 2020 bond, issued three weeks ago. The new $250m portion was priced at par, boosting the total bond size to $1bn.

  • By Stefanie Linhardt
  • 26 Nov 2013

Alcatel will use the proceeds of the tap, together with cash on hand, to repay its €298m senior secured term loan facility due 2019.

Citi was the bookrunner on the tap of the B3/CCC+ rated bond. According to CreditSights, the original issue was trading around 100.625.


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2 Rabobank 35.35
3 Morgan Stanley 11.45
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1 CITIC Securities 1,560.67 2 10.70%
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4 Rabobank 1,081.86 1 7.42%
5 Bank of America Merrill Lynch 831.08 4 5.70%