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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