Rain Commodities launches €515m high yield for Rütgers buy

05 Dec 2012

Rain Commodities, an Indian industrial firm, has launched a $400m and €210m high yield bond to finance its takeover of Rütgers, the German speciality chemicals company. The deal was announced on Wednesday morning and the first investor meetings took place in the afternoon.

The euro and dollar notes are senior secured second lien securities. The tenor is eight years with no call for the first three years.

Bookrunners Citigroup (left lead) and Goldman Sachs have arranged a full roadshow in Europe and the US for the issuer, with meetings in London ...

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