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 ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 99,250.27 279 13.11%
2 Bank of America Merrill Lynch 92,153.61 267 12.17%
3 Wells Fargo Securities 72,661.39 222 9.59%
4 JPMorgan 52,367.24 169 6.91%
5 Credit Suisse 41,885.89 127 5.53%