Tereos fail warns HY hybrids better wait

Sugar_230px
By Victor Jimenez
20 Jul 2017

European high yield market participants took caution from Tereos’ decision to postpone a perpetual hybrid bond issue on Tuesday, suggesting that the structure still confuses investors.

“The pricing the borrower was after was simply too tight,” said a head of corporate syndicate with knowledge of the situation.

A banker on the deal declined to comment, other than to confirm the deal had been ...

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.