Market quivers ahead of Arrow Global bond debut

18 Jan 2013

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, ...

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