Sticky sterling HY mart sees second deal

Fibre optic network, Red Dorsal, TV Azteca
By Owen Sanderson
10 Feb 2020

TalkTalk has mandated only the second sterling high yield issue of the year, unveiling a £500m unsecured five year to take out its 5.375% 2022 and pay down a portion of its revolver. Sterling supply has lagged the broader high yield market, which has seen one of the best starts on record in euros and dollars

HSBC is left lead on the issue, with Barclays and NatWest Markets also global coordinators. Bank of Ireland, CIC, DNB Markets, ING, MUFG and Santander are joint leads.

The new issue will be a five year non-call two bond rated BB-/BB-. Marketing ...

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