Orange Switz comes back for Apax divi
Fewer than three weeks after its Sfr180m bond issue, Orange Switzerland returned to the European high yield market on Monday. This time, the Swiss telecoms company raised €155m of February 2020 subordinated notes to pay a dividend to its owner, Apax.
After an investor call in the morning, global coordinators Credit Suisse and Deutsche Bank and other bookrunners UBS, Citigroup, JP Morgan and Morgan Stanley sold the notes at the tight end of 7.75% to 8% area guidance. The bonds were slightly below par on Thursday.The notes have the ...
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