Contour plugs into unabated HY refi stream

Contour, Peru, Energia Eolica
By Victor Jimenez
17 Jul 2018

Power generation group Contour was in the euro high yield market this week with a two tranche double-B bond refinancing, with the firm looking to join a raft of other issuers that have refinanced despite spreads leaking wider this year.

Contour was offering €700m of five year non-call two and seven year non-call three senior secured notes, with expected ratings of BB/BB by S&P Global and Fitch. Proceeds will be used to refinance Contour’s old secured bonds maturing in 2021, which pay a 5.125% coupon.

Contour’s two day ...

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