Elior’s ‘portable’ structure no bar to 300 buyers in rampant blowout debut
Elior, the French catering business owned by Chartherhouse, sold an increased high yield bond inside initial price guidance at 6.5%, despite the deal’s portable structure that means it can survive a takeover of the issuer.
Initial talk for the notes released on Wednesday was for pricing in the 6.75% area and for books to close at 10am. Bookrunners Crédit Agricole, HSBC, JP Morgan and Nomura revised guidance on Thursday morning to 6.5%, with books closing an hour later at 11am.
"Elior went extremely well,"
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