Aero supplier Meggitt takes $300m in US private placements

By Silas Brown
04 Nov 2020

Aerospace and defence supplier Meggitt has sold $300m US private placements at three and five years, according to market sources, with leverage step ups to further protect investors.

Barclays and SMBC arranged the deal for the unrated credit, originally marketing it at three, five and seven years. But in the end, only three and five years tranches were sold. 

Meggitt raised $100m via three year bullets at 260bp over US Treasuries, with a 2.79% coupon. There was ...

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