Kirs raises £800m bond for five-way merger

Insurance_FIG_Fotolia_230x150
By Victor Jimenez
06 Jun 2017

Insurance broker Towergate priced its £800m high yield bond to finance its merger with four UK peers, resulting in a new company called Kirs. The deal follows a string of successful high yield sterling issues but faced pre-election jitters.

One investor said that in a non-deal roadshow on May 11, Kirs talked about issuing in euros, sterling and dollars.

When Kirs opened its European roadshow on May 29, its B3/B rated deal had three tranches: five year non-call two notes in sterling and dollars, and a sterling floater ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.