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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1 Societe Generale 41.30
2 Rabobank 35.35
3 Morgan Stanley 11.45
4 BNP Paribas 5.95
4 Credit Agricole 5.95

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1 SG Corporate & Investment Banking 1,260.06 2 126,006,164,037.19%
2 Rabobank 1,081.86 1 108,185,922,974.77%
3 Wells Fargo Securities 430.57 1 43,057,020,785.00%
4 SK Securities 192.86 1 19,286,162,593.99%
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