Latest Breaking News On - ஓவந் சாண்டர்சன் - Page 11 : comparemela.com
Pfleiderer sucks up docs change for better pricing
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Dufry boosts size of HY comeback bond
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Cimpress preps cleanup of costly Apollo crisis debt
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By Owen Sanderson
12.45 PM
CLO managers once happily sold huge volumes of triple-A securities to NorinChukin, sucking up the Japanese bank’s terms in return for a reliable anchor order which locked in their senior notes ahead of public syndication. The bank has been slowly running down its portfolio since it was forced to stop buying by its regulator, but if it comes back, it might find managers keen to preserve their flexibility and place their bonds elsewhere.
Reports suggest NoChu is once again looking at CLO deals, but three sources active in the European market said it had yet to commit to a European deal, and continued to run down its old portfolio through declining to participate in resets.In the market this year, other triple-A
By Owen Sanderson
02.15 PM
Duty-free operator Dufry has joined the throng of issuers in the high yield primary markets with its first straight offering since the coronavirus pandemic hit. The new bond comes after extensive efforts to shore up the company’s capital, including the early conversion of a crisis era convert and talks with lenders for more covenant waivers.
The company is offering €850m-equivalent of notes, split into euro and Swiss franc tranches with seven year and five year maturities respectively. Most of the money raised will go to shore up the company’s liquidity position, with €367m of cash to balance sheet.The remainder of the money