Debut issuers to the fore as Premier Foods readies HY deal
Another debut borrower is set to tap Europe’s high yield market. Premier Foods, the UK’s biggest food producer, 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 sell a bond this year. The firm has been rated Ba2/BB/BB.
The company, which released preliminary results on Tuesday, will be leveraged 2.9 times Ebitda once a £387m sale of its meat-free
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