Schaeffler sells €300m, takes orders from employees for tap
Schaeffler, the German ball bearing maker, successfully returned to the high yield market last week, selling €300m of senior secured bonds on Friday.
The five year bond was increased by 100m and priced in line with guidance at 98.981 with a 6.75% coupon to yield 7%.
The deal went really well, said a banker at one of the bookrunners. We had a good reception from both institutional investors and retail money.Deutsche ...