Market quivers ahead of Arrow Global bond debut
Arrow Global is looking to raise £200m of high yield debt from a debut bond. The UK purchaser of defaulted consumer debt announced the deal on Thursday and starts its three-day roadshow on Friday.
Goldman Sachs (billing and delivery) and JP Morgan are joint bookrunners on the senior secured seven year bond that has expected B2/BB- ratings and will be callable after three years.
Arrow plans to use the proceeds to repay and then cancel its revolving credit facility, which has £97.2m outstanding, ...Please take a trial or subscribe to access this content.
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