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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1 Citi 3,237 10 19.12
2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

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5 Barclays 16,546.45 55 6.16%