AA preps PIK guidance, will replace more loans with bonds later
Bankers working on the PIK toggle bond issue for the Automobile Association plan to release guidance today and price the £350m six year deal as early as this evening or tomorrow.
Global coordinators Deutsche Bank and RBS held an investor breakfast in London on Wednesday, which was well attended by some 50 to 60 people, according to a banker close to the deal.
“The majority of questions were around the business and its performance, and feedback was positive,”
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