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(Bloomberg) Cineplex Inc. sold its C$250 million ($198.1 million) sale of unrated bonds at a lower yield than previously offered after seeing strong demand from investors seeking to play the economic recovery trade.Canada’s largest chain of movie theaters priced the second-lien secured senior notes due 2026 to yield 7.5%, according to people familiar with the matter. That compares with an earlier guidance between 7.5% and 7.75% and preliminary discussions with investors Thursday for 8% to 8.25%, said the people, who asked not to be named before the deal is completed.The transaction comes as investors worldwide are positioning for a post-pandemic reopening as countries execute Covid-19 vaccination campaigns. Investors piled into the deal even though Canada has an additional layer of uncertainty because its vaccination effort is lagging most key Western economies, according to data compiled by Bloomberg.“From a market functioning perspective, the Cineplex transaction show ....
Cineplex Lowers Yield of Unrated Debt Sale on Strong Demand msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.