Shunned by dollar buyers, Corral Petroleum brings first Skr PIK bond

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By Victor Jimenez
29 Apr 2016

Sweden's largest oil refiner, Corral Petroleum Holdings, sold on Friday €625m-equivalent of payment-in-kind toggle notes after dropping dollars for Swedish kronor.

For a Swedish company with a domestic investor following, borrowing in Swedish kronor was always an option.

But B/B rated Corral began on April 19 a two week roadshow for $700m of five year non-call three senior secured PIK notes only in euros and dollars. Investor meetings ...

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