Investors keen on Naspers at low 6%
Price guidance of low 6% yield area set for emerging market internet and pay TV provider Naspers’ seven year dollar Eurobond is attractive, said investors. They expect some tightening before the deal is priced.
Barclays and Citi are joint global co-ordinators and active bookrunners on the 144A/Reg S deal while JP Morgan is a passive bookrunner.
“I love it at 6%,” said one emerging market fund manager in London. “It’s a good credit with diversified global assets, it has stable cash generation
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