Miller Homes builds debut HY offering in tightening sterling market
UK housebuilder Miller Homes this week brought its first high yield deal, coming at a time when spreads on sterling bonds with speculative grade ratings have tightened more than 100bp so far this year.
Miller Homes announced plans to sell up to £250m of seven year non-call three bonds and up to £200m of floating rate notes with a six year maturity and a non-call period of one year when it started a two day investor roadshow on Tuesday.
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