Kantar bows to investor uprising to price buyout bonds
Bain Capital-backed market research business Kantar showed this week that investors still have some bite in the high yield market. Buyers forced the issuer to flex numerous covenants, tinker with the tranches, delay the issue and consent to unusually juicy coupons. The deal may not be a sign of things to come, however, as Crown waltzed through its bond launch, setting a new low coupon record for a fixed rate bond.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article: