Barry Callebaut to price high yield bonds tomorrow
Barry Callebaut, the newly speculative grade-rated Swiss chocolate company, has released guidance for its $600m 10 year bond. The notes are talked in the 5.5%-5.75% area, with books closing tomorrow.
"It's an OK credit but the deal comes with investment grade docs and it's quite long at 10 years," said a high yield investor in London.
High yield accounts have been a bit more cautious in the past weeks, after US Federal Reserve chairman Ben Bernanke's speech on May 22
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