High yielding Trans-Oil seeks dollar debt

By Mariam Meskin
14 Apr 2021

Trans-Oil Group, a Moldova agriculture company, was in the market on Wednesday for a dollar bond. The issuer has a rocky history in debt markets, following a failed attempt at a debut bond in 2018.

The issuer, rated B-/B by S&P and Fitch, is seeking a Reg S/144A senior secured dollar bond with a five year non-call three year structure.

Initial price thoughts on Wednesday morning were 9% to low 9%. That was later tightened to guidance of 8.75% area with order books in excess of $1bn ...

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