Gerresheimer Glas to issue bond

German speciality glassmaker Gerresheimer Glas intends to market a EUR 150 million high-yield bond from mid-July, sources close to the deal said on 8 July. The nine-year deal comes via lead managers J…

German speciality glassmaker Gerresheimer Glas intends to market a EUR 150 million high-yield bond from mid-July, sources close to the deal said on 8 July. The nine-year deal comes via lead managers JP Morgan and Goldman Sachs. UBS Warburg are co-leads but not book-runners. Proceeds from the deal will be used to refinance existing debt the source said. Pre-marketing takes place this week with roadshows scheduled from 15 July and pricing during the week of 22 July. Gerresheimer, which makes speciality glass products for pharmaceutical and other businesses, was sold to private equity firm Investcorp by Germany“s Viag in 2000.