McDonald’s breaks coupon record with two trancher

29 Jul 2010

With the speed normally associated with a double bacon cheesburger and a McFlurry, McDonald’s slapped together an opportunistic 10s and 30s bond issue to exploit record low yields.

The 3.5% $450m senior unsecured tranche was the lowest coupon for a 10 year trade since records began, according to Dealogic. The 4.78% $350m tranche equalled the record low coupon for a 30 year deal.

Aggregate demand for A3/A rated McDonald’s peaked at $7bn, with price tightening sifting the ...

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