Kraton switches to euros for high yield refi

Pharmaceutical 230x150
By Victor Jimenez
14 May 2018

Texan chemicals group Kraton opened up the European high yield deal pipeline this week with a debut deal that will help refinance a dollar bond. The firm is also topping up a US loan as it looks to cut its borrowing costs.

Kraton is turning to the euro high yield market for the first time to refinance its $440m senior unsecured notes due 2023. The bond was printed in 2016 at a cash price of 96.225, with ratings of B3/B by Moody’s and S&P Global. It pays a coupon of ...

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