Cirsa bonds bounce as Blackstone buys back PIK notes
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Cirsa bonds bounce as Blackstone buys back PIK notes

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Bonds issued by Spanish gambling company Cirsa have rallied on expectations of support from owner Blackstone, after it disclosed on its investor call that affiliates of the private equity firm had bought €120m of its PIK notes in the market — even though the purchase does nothing to boost the firm’s liquidity profile.

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