Albéa's $150m dividend PIK toggle delayed
Albéa Beauty hopes to be the next issuer to add a PIK toggle bond to its capital structure, after the flurry of payment-in-kind structures sold this autumn. However, the deal's timetable has slipped.
“I wouldn’t say it’s going exceptionally well,” said one banker on Thursday.
The $150m deal for the French cosmetics packaging company was expected to be priced on Wednesday US time, but no timetable update was known when EuroWeek went to press on Thursday.
The deal is being led by JP
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