Unilabs gets €685m debut away after pulling it in June
Unilabs, the Geneva-based laboratories business, succeeded in selling its €685m debut high-yield bond on Wednesday in an intraday execution, nearly a month after pulling the deal amid unfavourable markets.
Bookrunners JP Morgan (billing and delivering), Lloyds, Nordea and SEB sold €355m of five year senior secured bonds with an 8.5% coupon at 98.025, to yield 9%.
The floating rate senior secured tranche, of €130m, was priced at a coupon of 725bp over Euribor at 99.
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