Stabilus sells €315m HY bond, deal trades off

02 Jun 2013

German car parts maker Stabilus sold its €315m high yield debut bond on Friday, in line with guidance at 7.75%. The notes were trading down slightly on Monday, in line with the market, according to a banker away from the deal.

The senior secured 2018 bonds were priced at par and were quoted around 99.25 on Monday. The B2/B/B+ rated notes came alongside a €25m super-senior revolving credit facility.

Triton-owned Stabilus planned to use the proceeds to repay loans and a pay small dividend to its shareholder.

The deal, which ...

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