Thomas Cook sells €525m 2020 bond to yield 7.75%

UK travel operator Thomas Cook has sold its €525m seven year bond, pricing them in line with guidance, at par, to yield 7.75%.

  • 23 May 2013

Royal Bank of Scotland was billing and delivering on Thomas Cook’s first high yield bond since it reemerged from distressed trading levels, with Barclays, BNP Paribas, Credit Suisse, DNB Markets, Jefferies, Lloyds and Société Générale also bookrunning.

Guidance in the 7.625%-7.875% area was released on Wednesday afternoon.

The bond comes ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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4 JPMorgan 67,323.36 205 7.37%
5 Credit Suisse 49,265.86 144 5.39%