GTLK braves volatile EM market, raises $600m amid Covid-19 fears
GTLK Europe, an air and sea vehicle lessor, has priced a seven year unsecured bond — its longest dated deal to date. It paid a premium to investors, but won praise for steering the transaction through a market that had recently been shuttered due to Covid-19 chaos.
GTLK Europe, which is the Ireland-based subsidiary of Russian state-owned State Transport Leasing Co (STLC), conducted a roadshow in London on Monday and opened books on Tuesday.The final size of the senior unsecured Reg S bond was $600m, above the borrower’s initial benchmark target. The final coupon was ...
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