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LevFinLevFin High Yield Bonds

Bain and Blackstone buyout bonds clamp down on ‘net short’ investors


The bond leg of the loan-dominated buyout packages for Kantar and Merlin hit the market on Monday, giving investors a chance to buy subordinated debt in size. But both Bain Capital, and Blackstone, the sponsors, have included controversial provisions to limit the rights of noteholders who are ‘net short’.

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