Cabot lengthens maturities as Intrum strikes Greek NPL deal

cabot230x150
By Owen Sanderson
04 Jun 2019

UK-based debt purchaser Cabot Credit Management has extended its maturity profile with an opportunistic refinancing of its 2021 high yield notes, with solid demand for the deal allowing it to redeem a sterling tranche as well.

Left lead Morgan Stanley offered a new €310m five year FRN through Morgan Stanley on Tuesday, with whispers of 650bp-675bp, and guidance in line with these levels.

But strong demand during syndication allowed the company to increase the deal size to €400m and tighten pricing to 637.5bp. The larger ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.