CABB's €585m debut bond takes leverage to new peak

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By Olivier Holmey
05 Jun 2014

CABB, the German speciality chemicals firm, issued €585m of bonds last Friday (May 30) to back its takeover by Permira, pushing the company’s leverage ratio to its highest level yet.

The bonds — CABB's first — include €175m of seven year non-call one senior secured floating rate notes, sold at par with a margin of 475bp over Euribor.

The €235m of seven year non-call three senior secured fixed notes were sold at 5.25%, the tight end of price ...

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