‘Astonishing’ coupon for EQT’s Lima Corp as it replaces LBO loan
Lima Corporate, the Italian maker of orthopaedic implants, kept the euro high yield new issue market in motion with a floating rate bond deal, which, unusually, will be used to refinance the loans that funded its buyout by EQT from Ardian.
Lima cut short its bond roadshow in continental Europe on Wednesday, but it was a positive sign. Investor demand from its London meetings had accelerated the pricing of the deal.Just after noon on Wednesday, Lima released price talk of 375bp-400bp over Euribor for its new €275m senior secured ...
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