TMF Group reduces unsecured, ups secured to sell €580m of HY bonds

03 Dec 2012

TMF Group, the Dutch business services provider owned by Doughty Hanson, sold €580m of debut bonds on Friday, tweaking its original plans to give more emphasis to the secured portion of the deal.

Some €405m of senior secured December 2018 notes priced with a coupon of Euribor plus 537.5bp at 99, while €175m of senior fixed rate notes were sold with a 9.875% coupon at par.

Guidance released on Thursday was for €380m of secured 2018 FRN in the 550bp-575bp over ...

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