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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.