AA Gets Secured Senior And HY Bonds Away In Difficult Market

25 Jun 2013

Pricing for the Automobile Association’s debut issue of bonds backed by its entire business started at generous spreads for both the senior and high yield portions, but sterling investors demanded even more to get involved in the senior 12-year tranche.

Pricing for the Automobile Association’s debut issue of bonds backed by its entire business started at generous spreads for both the senior and high yield portions, but sterling investors demanded even more to get involved in the senior 12-year tranche.

The AA will be ...

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