HellermannTyton guides high yield FRN to price today

05 Dec 2012

HellermannTyton, the UK maker of cable fittings owned by Doughty Hanson, released guidance for its floating rate bond on Wednesday. The five year senior secured high yield bond is expected to price later today.

That would make it the first deal to close out of December’s €2.285bn-equivalent high yield flurry.

Bookrunner Goldman Sachs is talking the deal in the Euribor plus 525bp area at a discount of 99. The notes were increased from €215m initially to €220m alongside guidance.

“Pricing is a bit ...

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