Dixons sells first HY deal from UK retailer since May 2011
UK electronics retailer Dixons Retail sold its £150m 2017 bond on Tuesday, after less than two days of marketing. The bonds came with an 8.75% coupon to yield 9%, in line with 9% area guidance.
The fact that Dixons is able to come tells you a lot about the state of the market, said a high yield investor.
Earlier in the year and during the second half of 2011, new issues from speculative grade rated UK retailers would have been smiled at. The
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