Bormioli pays 10% to redeem €250m bridge
Three new issues and one tap — that is as much as a European high yield market perturbed by doom-laden headlines was able to price in July, a month bankers had expected to be packed with new issues.
Bormioli Rocco, an Italian glass and plastic packaging maker, was the only company that managed to sell a high yield bond in the last week before August. It paid 10% to liberate JP Morgan from the bridge finance it had provided to back the companys acquisition.
Bormiolis 250m seven
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