Nord Anglia shaves costs with tap well inside original
Nord Anglia Education (UK) Holdings has tapped a five year bond at a lower yield than its original issue last year, pricing the deal after market-soothing messages from China and the US put some stability back into global financial markets.
The issuer, which owns 14 schools in Europe, Asia and the Middle East, sold an additional $165m of senior unsecured notes to yield 8.5% on June 27.
That is a lot lower than the 10.25% coupon on the original $325m five year non-call three deal that was issued
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