Puma, HY/EM mix, shrugs off wobble

By Stefanie Linhardt
31 Jan 2014

Oil products company Puma Energy priced its debut high yield bond in line with guidance on Tuesday, relying on broad appeal to a varied investor base to overcome the sell-off in emerging market credits.

Global co-ordinators Goldman Sachs and Société Générale and bookrunners ING, Natixis, Rand Merchant Bank and Standard Bank priced the $750m unsecured 2021 bond at 6.75%, in line with guidance.

Priced at par, the bond closed at 100.25/100.50 on Tuesday, a banker said. However, it slipped to just above ...

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