US companies bring euro high yield back

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By Owen Sanderson
19 Feb 2020

After a pause last week, the primary high yield bond market in euros has bounced back with two new mandates on Wednesday, unsecured deals for US firms Catalent and Silgan. Both deals are in popular industries and refinance existing debt, with leveraged finance bankers telling clients there’s no time to print like the present.

Packaging firm Silgan Holding, which makes metal containers for consumer goods and food, is in the market with a $200m add-on to its existing $400m of 4.125% senior 2028 notes, and a €500m euro 2028 maturing five months later.

The bonds are rated Ba3/BB-, with three year call ...

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