ONO Prices An Upsized $1 Billion Senior Secured 2018 Notes At 96.934

Spanish cable operator ONO, via Nara Cable Funding Ltd., late Thursday priced a $1 billion bond maturing Dec. 1, 2018, one of the banks leading the sale said Tuesday.

The senior secured issue was upsized from the originally planned $400 million.

JPMorgan Chase & Co, BNP Paribas SA, Deutsche Bank AG are lead managers on the issue, while a list of other banks including Goldman Sachs, Bank of America Merrill Lynch, Banco Bilbao Vizcaya Argentaria SA and Credit Agricole SA, are bookrunners.

The pricing terms are as follows:

 
Amount:           $1 billion 
Maturity:         Dec 1, 2018 
Coupon:           8.875% 
Issue Price:      96.934 
Payment Date:     Feb 2 
Yield:            9.5% 
Debt Ratings:     B1 (Moody's) 
                  B  (Standard & Poor's) 
Denominations:    $200,000 
Interest:         Semiannual

-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349; serena.ruffoni@dowjones.com

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