Perstorp prints high yield subs with rare 10% coupon
Euro high yield bond buyers caught sight of a rare two digit coupon this week. Perstorp, the Swedish speciality chemicals group, priced its subordinated note with a 10% coupon.
Only three borrowers have issued bonds that pay coupons of 10% or above since January 2015, according to Dealogic data. The fourth is Perstorp, which this week sold a €515m five year, two tranche bond.On Tuesday, it announced price guidance for its €235m non-call 1.5 year ...
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