High yield bonds for Findus, Ineos on the way

By Stefanie Linhardt
24 Jan 2014

High yield issuance has picked up a little this year and investors are now waiting for a punchy deal to come to market. Findus, the frozen foods company that was restructured in 2012, may break the ice.

The UK company is said to be planning a payment-in-kind bond to finance a £200m dividend to its shareholders Highbridge Capital, JP Morgan and Lion Capital.

According to a banker away from the deal, 2.2 turns of leverage would be added for the deal, bringing total leverage to ...

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