Sazka bets on euro market with tightly priced HY issue

By Karoliina Liimatainen
12 Nov 2019

Czech gaming company Sazka, with lottery operations around Europe, debuted in the euro market on Tuesday with €300m of senior unsecured notes, priced at 4.125%.

The issue, rated BB- by both S&P and Fitch, had a new issuer premium on the coupon, even though it ended up pricing tighter than the initial price talk of 4.25%–4.5%. Similarly rated well-known borrowers of late have managed to issue unsecured bonds regularly in the 2–3% range ...

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