Bain relents to investor demands as Kantar bonds fail to spark joy
Bain Capital has given in to a laundry list of demands from investors as they snubbed bonds for Kantar, resulting in a delay to the deal's schedule. In a rare case of aggressive investor push-back, covenants have now been flexed to the extreme and initial price thoughts look surprisingly high, given the exceptionally favourable market for new issuers.
The borrower is expected to pay a coupon of about 5.5%–5.75% for the €750m of secured notes and 9.50% for the €475m unsecured notes, according to price ...
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