Unitymedia Eu2.66bn bond flies, helping Liberty skip bridge loan
The high yield bond market this week strongly backed a novel, no-loan acquisition financing for the Eu3.5bn buy-out of German cable firm Unitymedia by multinational media company Liberty Global. A Eu2.66bn issue of senior secured euro and dollar bonds, and unsecured euro bonds priced at guidance and was rewarded with around Eu10bn of orders and healthy secondary market performance.
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