Debut issuers to the fore as Premier Foods preps HY deal
Another debut borrower is set to tap Europe’s high yield market after the UK’s Premier Foods obtained first-time ratings on Monday to enable it to diversify from bank debt.
Premier Foods, which owns brands such as Hovis bread and Mr Kipling cakes, said it wanted to raise a bond this year. It has been rated Ba2/BB/BB.
The company, which released full year results on Tuesday, will be leveraged 2.9 times Ebitda once a £387m sale of its meat-free
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.