Vicat constructs new USPP deal

Vicat constructs new USPP deal
Published: 16 November 2010

Credit Agricole and HSBC Securities today launched a private bond deal for French cement company Vicat S.A., sources familiar with the transaction confirmed.

The transaction has US$150m on the cover, and the company is looking for maturities of seven-, 10- and 12-years. Bids on the deal are expected to circle the week of Nov. 29. The company is an NAIC-2 issuer.

Vicat last came to the U.S. private placement market in 2003, raising US$400m via Credit Lyonnais (which was acquired by Credit Agricole the same year). That deal was also completed in seven-, 10- and 12-year notes, pricing at 145 bps, 155bps and 170 bps, respectively.