Carbon Black gets done, showing HY still functioning

23 Jun 2011

Evonik’s spun-off Carbon Black pigments business raised Eu600m in euros and dollars with its seven year high yield bond on Friday, despite rough conditions in the market.

Even though the bonds were priced wider than guidance and the balance of debt was shifted towards the dollar market, the deal’s completion is an encouraging sign for a European high yield market that was beginning to lose confidence after a volatile few weeks.

Issued by Kinove German Bondco, ...

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