Pendragon tightens guidance to 6.875% to 7%, to price later

Pendragon, the UK car dealer, released price guidance in the 7%-7.25% area for its £175m debut high yield bond this morning, and later tightened it to 6.875% to 7%.

  • 25 Apr 2013

Investor meetings ended in Edinburgh this morning and pricing is planned for later today.

RBS (billing and delivering), Barclays and Lloyds Bank are running the books on the senior secured seven year transaction.

The London-listed company plans to simultaneously sign a £145m revolving credit facility, of which it plans to ...

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1 BNP Paribas 2,459.18 9 9.92%
2 UniCredit 1,892.23 6 7.63%
3 Bank of America Merrill Lynch 1,585.30 5 6.39%
4 Mitsubishi UFJ Financial Group 1,577.41 6 6.36%
5 ING 1,477.05 5 5.96%