Ascometal changes loan status to woo buyers

04 Apr 2012

The high yield bond sale for French steelmaker Ascometal went very quiet this week, but some market participants said the deal was being restructured.

Last week a banker close to the deal had denied reports that the transaction had been pulled, and said bookrunners Bank of America Merrill Lynch and Morgan Stanley were still working on it.

Ascometal wanted to raise €300m of B3/B- rated eight year senior secured notes through Captain BidCo, ...

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