Market opener Verisure returns for refi

verisure alarm adobe stock 575x375
By Owen Sanderson
06 Jul 2020

Swedish alarm firm Verisure is preparing a €1bn refinancing, underlining the move in the leveraged credit market from the tough days of March and April to firmer territory where sponsors can optimise capital structures, not just hang on for liquidity at any price.

Verisure brought the first euro high yield bond after seven weeks of drought in mid-April, printing an oversubscribed €200m floater which kept the company from drawing down its revolver and shored up broader market confidence.

But despite the success of the issue, which was increased by €50m and ...

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