Cabot Financial returns for £100m in HY drive-by

eurocoinpile
By Stefanie Linhardt
30 Jul 2013

Cabot Financial, one of the high yield market's consumer debt purchasers, sold a high yield bond inside price guidance on Monday, in a one day execution. The £100m of senior secured notes were priced at par to yield 8.375%.

"It went well," said a banker close to the deal. "The book was 2.5 times oversubscribed and we brought it at the tight end of the guidance range. The trade got done within a day, which is always very nice."

Bookrunners JP Morgan (billing and delivering) and Lloyds released ...

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