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.

  • By Rev Hui
  • 05 Jul 2013

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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