Caffeinated high yield buzzing as coffee bonds mandated

Coffee machine
By Owen Sanderson
15 Oct 2019

Two coffee firms are marketing high yield bonds this week, as a strong market backdrop encourages sponsors to lock in cheap funding. The two issues sit at opposite ends of the coffee spectrum — service station self-serve and high end barista-style kit — but both companies are sponsor-owned single-B names.

Lone Star-owned Evoca SpA, maker of the Gaggia espresso machines, among others, is in the market with a €550m senior secured offering through Goldman Sachs and Deutsche Bank, looking to term out funding and cut coupons.

It will take out €410m of existing senior secured notes ...

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.