DFS looks for £310m high yield bond to pay dividend

27 Feb 2013

DFS Furniture Holdings, the British sofa retailer, wants to sell some £310m of senior secured high yield bonds. It plans to use part of the proceeds to pay a £113m dividend to its shareholders.

The dividend includes the repayment of an existing £10.6m shareholder loan to Diamond Holdco Ltd, while the remaining £102.4m will be used to make a payment to its shareholder, private equity firm Advent International.

Advent bought 85% of DFS through a leveraged buyout for £500m in June 2010. The ...

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