Loyal investors back Phones4u’s punchy PIK
Phones4u, the UK mobile phone retailer, priced its £205m PIK toggle bond on Wednesday, after a swift marketing process that began with a roadshow in London on Monday and Tuesday.
Physical bookrunner Goldman Sachs, with Lloyds as an additional bookrunner, priced the bond at a yield of 10.25%, the tight end of a 25bp range.
“It went really well, we’re very pleased,” said a banker at one of the leads. “Like a lot of the PIK toggle deals
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