Brakes kicks off sterling high yield week with £200m sale

Brakes Group, the UK food distributor, has sold the first of this week’s sterling high yield bond flurry. The £200m five year note was priced inside guidance with a 7.125% coupon.

  • By Stefanie Linhardt
  • 21 Nov 2013

The senior secured notes with B3/B- ratings were guided in the 7.25% area on Tuesday afternoon and priced on Thursday afternoon.

“It was a great success,” said a banker close to the deal. “We were able to price it at a pretty tight level. All the top guys ...

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2 Bank of America Merrill Lynch (BAML) 8,059 25 11.72
3 Lloyds Bank 5,761 18 8.38
4 Citi 5,606 15 8.15
5 JP Morgan 5,007 7 7.28

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