Fri 06/04/2021 11:09 AM
Issuers in May continued to come to the European high-yield bond markets in droves, following a robust April. The favorable terms achieved by the issuers, both in terms of interest burden reduction and covenant flexibility show how receptive the market is. For example, Premier Foods priced its new £330 million notes at 3.5% reducing its interest burden by almost half from 6.25%. Similarly, issuers with a chequered history such as Tullow, debut issuers and dividend recaps all found a way to...
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