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Article: Private Market Looks into the ABC's of New Issuer.(ABC Learning Centres enters market with Banc of America Securities L.L.C.)
- Article from:
- Private Placement Letter
- Article date:
- April 10, 2006
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Queensland, Australia-based ABC Learning Centres Ltd., the largest listed global provider of childcare services is in the private market seeking $100 million of senior notes with a potential upsize via sole agent Banc of America Securities, sources said last week.
The NAIC-2 type credit is looking for seven- 10- and 12-year bullets. No further details on the transaction were available at deadline.
It's rare that an education provider comes to the private market, according to PPL data. Sources agree that it is quite an unusual issuer to come to the market.
"I don't think it will be an easy sell," said one source. "But I do think investors might ...