North Atlantic Drilling guides high yield bond in 6%-6.25% area

Norwegian offshore drilling company North Atlantic Drilling has released price talk for its $600m unsecured high yield bond. It aims to price the deal later today.

  • By Stefanie Linhardt
  • 27 Jan 2014

The five year, non-callable bond is guided in the 6%-6.25% area. Bookrunners Goldman Sachs, Credit Suisse and Morgan Stanley closed the European book at midday UK time, while the US book remains open until 11am New York time.

The unrated company, 74% owned by Seadrill, aims to use ...

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1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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2 Bank of America Merrill Lynch 94,721.79 272 8.96%
3 JPMorgan 92,612.23 269 8.76%
4 Wells Fargo Securities 82,597.19 239 7.81%
5 Credit Suisse 69,442.99 183 6.57%