Paprec, MPT join HY party with acquisition deals

Paprec
By Max Bower, Victor Jimenez
16 Mar 2017

French recycling firm Paprec and US Reit Medical Properties followed the path trodden by other eight issuers this week, entering the high yield market on Tuesday and pricing their deals after short roadshows.

Paprec enlarged its €295m 5.25% notes maturing in 2022, to finance its acquisition of waste management firm Coved from French owner Saur for around €250m, the largest takeover in Paprec's history.

The €225m bond tap came on Thursday at 104.5. Guidance was 104-104.5. Standard & Poor's affirmed Paprec’s ...

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