All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group
LevFinLevFin High Yield Bonds

Synlab boosts bonds after lacklustre loan swap

Covid-19 testing_PA_575x375

Synlab’s multi-part liability management exercise has ended up leaning more heavily on the bond market than on loans, with the new FRN leg boosted from €400m to €850m, more than compensating for limited take-up from lenders asked to switch into a longer dated loan. But it should be little surprise that the bond went better, as it paid investors an extra 75bp for a near-identical product.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree