Befesa launches €150m PIK toggle to pay Triton dividend

Yet another European payment-in-kind toggle bond has been announced. Befesa, the Spanish waste management and recycling group, wants to sell €150m of PIK toggle notes this week.

  • By Stefanie Linhardt
  • 14 Oct 2013

Private equity firm Triton bought Befesa for €850m from Spanish industrial conglomerate Abengoa in June, and a high yield financing has been expected since then.

The PIK bond will be issued through Bilbao (Luxembourg) SA, a holding company that owns three businesses: Befesa Zinc, an aluminium recycling unit and ...

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