Structured Bonds - All Articles

  • Action allocates loan add-on

    Action allocated its new €275m term loan ‘B’ on Tuesday after pushing through a last-minute reverse flex.

    • 31 Jul 2013
  • ConvaTec seeks to improve terms of existing debt

    Lenders have until Friday to commit to a debt amendment process for UK developer of medical technologies ConvaTec. The proposed changes to the company’s outstanding debt include a tightening of margins and a tweak of its covenants.

    • 31 Jul 2013
  • Swissport sells high yield tap at mid-point of guidance

    Swissport sold its $390m high yield tap at the mid-point of price guidance yesterday. The notes, which will be fungible with its $555m 7.875% senior secured 2018 bond, were priced at 102.75.

    • 31 Jul 2013
  • S&B Minerals sells Greek LBO high yield bond

    S&B Industrial Minerals, the Greek mining group, sold its debut high yield bond on Tuesday. The deal finances one of the first leveraged buyouts in Greece since its sovereign debt crisis.

    • 31 Jul 2013
  • BofA Merrill hires vice chair of global financial sponsors team

    Bank of America Merrill Lynch has appointed Saba Nazar from Nomura as vice chair of its global financial sponsors group.

    • 30 Jul 2013
  • Eden Springs to close deal after delays but no changes

    Eden Springs expects to receive final commitments for its new package of loans by the end of this week, after an especially long issuance process.

    • 30 Jul 2013
  • TSL Education tightens covenants before closing book

    UK educational publisher TSL Education has tightened the restrictions attached to its new £250m debt package, most notably by adding a second financial covenant.

    • 30 Jul 2013
  • Swissport seeks $390m tap today for Servisair acquisition

    Swissport, the Swiss provider of ground services for airlines and airports, wants to issue some $390m of high yield bonds to finance a planned acquisition.

    • 30 Jul 2013
  • Greece's S&B Minerals guides HY debut to price €275m today

    S&B Industrial Minerals, the Greek mining group, is planning to sell its debut high yield bond later today. Leads released price guidance in the 9.25% area on Monday afternoon and closed books at midday today.

    • 30 Jul 2013
  • Cabot Financial returns for £100m in HY drive-by

    Cabot Financial, one of the high yield market's consumer debt purchasers, sold a high yield bond inside price guidance on Monday, in a one day execution. The £100m of senior secured notes were priced at par to yield 8.375%.

    • 30 Jul 2013
  • CeramTec achieves last-minute reverse flex before allocation

    CeramTec, the German ceramic manufacturer, reverse-flexed its new transatlantic covenant-lite debt package on Monday (July 29). The leads also changed the term loan ‘B’ structure to feature dollars more heavily than euros.

    • 29 Jul 2013
  • In with the old: High yield investors seek out repeats

    Investors are clamoring for more familiar names and better credit quality within the high yield space as volatile financial markets continue to keep bond buyers on edge about new issuers that require them to comb through the fundamentals.

    • 29 Jul 2013
  • Cogetech revealed as high yield issuer in waiting with €165m bond

    Cogetech was uncovered on Monday as one of the two Italian gaming companies premarketing a debut bond issue in the high yield market. The gambling machines operator is seeking to sell a €165m bond.

    • 29 Jul 2013
  • BCA drives term loan ‘C’ up before allocation

    British Car Auctions, the UK used car retailer owned by private equity firm Clayton Dubilier & Rice, is set to allocate its new loan package early this week. The deal, syndication of which closed oversubscribed last Thursday, has been rejigged slightly to reflect investor demand in the term loan ‘C’ tranche.

    • 29 Jul 2013
  • Cabot looks for £100m high yield bond in 8.5% area

    Consumer debt purchaser Cabot is hoping to sell its second high yield bond. The £100m seven year transaction is guided in the 8.5% yield area and is expected to be priced later today.

    • 29 Jul 2013
  • Manutencoop drops floater, sells only €425m of fixed rate bonds

    Italian facilities management business Manutencoop priced its high yield bond on Friday, but dropped a planned FRN and sold the whole deal fixed rate. The issue was reduced from €450m to €425m.

    • 29 Jul 2013
  • AsiaInfo $330m LBO wrapping up

    Around 14 banks have joined AsiaInfo Linkage’s $330m leveraged buyout loan as bankers on the deal wrap up syndication.

    • 29 Jul 2013
  • GSO gauges interest for second euro CLO

    Deutsche Bank is arranging GSO Capital Partners’ second European collateralized loan obligation of the year, a deal which will likely be placed following the August holiday period.

    • 26 Jul 2013
  • EIB cracks project bond conundrum with Castor deal

    Hopes that a project bond market can flourish in Europe to finance the continent’s enormous infrastructure needs advanced this week as the European Investment Bank’s much-heralded Project Bond Initiative swung into action.

    • 26 Jul 2013
  • Monoline returns as Assured wraps UK student housing bond

    Holyrood Student Accommodation, a project company building student housing for the University of Edinburgh, raised £62m on Wednesday with a long term bond guaranteed by Assured Guaranty Europe, the monoline bond insurer.

    • 26 Jul 2013
  • Loan volume to shoot up, but lev loans will have to pay price

    Asian loans bankers are in high spirits, thanks to a combination of a liquid market and a healthy pipeline. But as more companies shun bond issuance to tap the more stable loan market, the rise in dealflow means leveraged borrowers will be at a disadvantage — and should prepare to shell out juicier margins, writes Rashmi Kumar.

    • 25 Jul 2013
  • Greek HY returns for LBO of S&B Minerals

    Greek debt is back in the high yield market, after the recent flurry of peripheral European deal announcements. S&B Industrial Minerals, the Greek miner and ore processor, is looking for €275m of senior secured notes, while five Italian debut issuers were also vying for investors’ attention.

    • 25 Jul 2013
  • Gamenet wins tight price as Italian gambling names line up

    Gamenet, the Italian gambling provider, sold its €200m high yield bond in line with price guidance on Thursday.

    • 25 Jul 2013
  • This weeks Markit data

    CDS: week’s biggest movers — Markit CDX North America investment grade index — Markit iTraxx Europe subordinated financials index — Markit iTraxx Europe senior financials index — Markit iTraxx SovX Western Europe index — Markit iTraxx Europe index — Markit iTraxx crossover index

    • 25 Jul 2013
  • Manutencoop makes it three Italian HYs

    Manutencoop, an Italian facilities management business, wants to sell €450m of high yield bonds in another debut transaction from Italy. It released price guidance for the transaction on Thursday and plans to price the notes today (Friday).

    • 25 Jul 2013
  • Popular foods group Picard refis term loans with €480m FRN that trades up

    Picard, the frozen food producer and retailer, sold its €480m floating rate note on Thursday at the tight end of guidance. The notes jumped higher on the break to trade around 100.875 on Thursday afternoon.

    • 25 Jul 2013
  • CeramTec prices €307m triple-C bond way inside peers at 8.25%

    German industrial ceramics maker CeramTec has brought triple-C risk back to low yields. The company, taken over by private equity firm Cinven, sold a highly geared, unsecured €306.7m bond at the tight end of guidance to yield 8.25%.

    • 25 Jul 2013
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, June 25, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 25 Jul 2013
  • Italy’s private Salini sells €400m debut bond to refinance Impregilo takeover

    Salini, the Italian infrastructure construction group, has become the first of a wave of Italian speculative grade rated issuers to succeed in selling a high yield bond before the summer.

    • 25 Jul 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, June 24, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 25 Jul 2013
  • All Asian league tables by sector

    Dealogic league tables of Asian transactions, dated June 25, 2013. Including Bonds, ECM, Syndicated Loans, Mergers & Acquisitions.

    • 25 Jul 2013
  • International bonds league tables

    Dealogic league tables of bond transactions, June 24, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 25 Jul 2013
  • Travelex’s £350m HY debut prices tightly, widens slightly

    Travelex, the UK bureau de change chain and foreign exchange dealer, sold its £350m high yield bond at the tight end of price guidance on Wednesday, though the deal traded slightly lower on Thursday.

    • 25 Jul 2013
  • Issuance delays push deals into early August

    Several leveraged loan borrowers will need to remain in the market longer than they had hoped, raising the prospect that they will have to attract investors during the quieter month of August.

    • 25 Jul 2013
  • Leveraged loan market syndicated loans - news in brief, July 26, 2013

    Leveraged loan market syndicated loans - news in brief, July 26, 2013

    • 25 Jul 2013
  • Investor appetite great in US, but not for all European lev names

    Investor appetite in the US leveraged loan market still heavily outweighs liquidity in Europe but some issuers of transatlantic deals have found to their chagrin that heading to the US market is no guarantee of success.

    • 25 Jul 2013
  • Edinburgh student housing deal furthers monoline bond revival

    Holyrood Student Accommodation, a project company building student housing for the University of Edinburgh, raised £62m yesterday with a long term bond guaranteed by Assured Guaranty Europe, the monoline bond insurer.

    • 25 Jul 2013
  • Castor’s €1.4bn arrives, inaugurating EIB project bond facility

    After a tense couple of days, the sponsors of the Castor gas storage project in Spain, and their seven bookrunners, have launched today the €1.4bn bond that will refinance the nearly completed facility.

    • 25 Jul 2013
  • Infront finally crosses finish line

    Swiss sports marketing company Infront allocated its new €300m debt package on Wednesday (July 24), after suffering several delays.

    • 25 Jul 2013
  • Picard sells €480m floater to refinance term loans

    Picard, the French frozen food producer and retailer, has sold its €480m floating rate note at the tight end of guidance.

    • 25 Jul 2013
  • Marlborough in levfin advisory expansion

    Marlborough Partners is expanding its leveraged debt advisory business into the Continent with the opening of an office in Germany and the hire of Markus Ehrler. Ehrler, who joins from private equity firm 3i, will lead the Frankfurt office, which will open later this month in a sign that the firm reckons LBO activity in the German-speaking region will soon be on the up, writes Stefanie Linhardt.

    • 25 Jul 2013
  • CeramTec to sell highly levered high yield bond today

    CeramTec, the German industrial ceramics maker bought by Cinven, has released price guidance and plans to sell its high yield bond today.

    • 25 Jul 2013
  • Travelex raises £350m HY at tight end of guidance

    Travelex, the UK bureau de change chain and foreign exchange dealer, sold its £350m high yield bond at the tight end of price guidance on Wednesday, though the deal traded slightly lower on Thursday.

    • 25 Jul 2013
  • Gamenet looking to price high yield bond tomorrow

    Gamenet, the latest Italian gambling provider seeking to sell a high yield bond, has released price guidance.

    • 24 Jul 2013
  • Manutencoop whispers price for fixed rate tranche of HY bond

    Bankers working on the €450m high yield bond for Italian facilities management company Manutencoop have released price whispers for the fixed rate tranche.

    • 24 Jul 2013
  • Springer Science deepens discount to attract investors

    Springer Science+Business Media has deepened the discount on its new transatlantic covenant-lite loan package in order to make the transaction more appealing to potential investors.

    • 24 Jul 2013
  • Completel completes A&E

    Completel, the French telecommunications company, allocated its new deal on Tuesday evening. The transaction involved an overhaul of Completel’s debt structure, with the creation of a new term loan ‘B3’ tranche and the refinancing of non-extended credit.

    • 24 Jul 2013
  • Salini first to price out of Italian high yield flock

    Salini has become the first of the latest spate of Italian speculative grade rated issuers to succeed in selling a high yield bond before the summer.

    • 24 Jul 2013
  • Picard looks for term loan refi with high yield FRN

    Picard, the French frozen food retailer, wants to refinance its term loans with €480m of floating rate notes. The business, owned by Lion Capital, is well known in the leveraged finance markets.

    • 24 Jul 2013
  • Travelex guides two-tranche high yield debut

    Travelex, the UK bureau de change chain and foreign exchange dealer, is looking to sell its £350m high yield bond on Wednesday. Price guidance for the two-tranche transaction was released on Tuesday afternoon.

    • 23 Jul 2013
  • Unrated Louis Dreyfus sells first senior bond at 4%

    Louis Dreyfus Commodities, the privately owned agricultural commodities trading group, issued its first senior bond today, raising €400m of five year debt without a rating.

    • 23 Jul 2013
  • Investors consent to HEMA’s amend-and-extend

    Dutch discount retail chain HEMA received consent from investors on Monday to amend and extend its outstanding leveraged loans. The company will pay higher margins in return for longer debt.

    • 23 Jul 2013
  • Pret a Manger readies to serve up new deal

    UK sandwich shop chain Pret a Manger is set to sign the finalised documentation for its new £375m loan package on Wednesday, and allocate the loans a few days later.

    • 23 Jul 2013
  • S&B Minerals to bring back Greek high yield bonds

    Greek debt is back in the high yield market, after the recent flurry of peripheral European deal announcements.

    • 23 Jul 2013
  • Numéricable’s slight flex convinces investors

    Numéricable expects to allocate its loan amendment and extension on Tuesday (July 23), having received sufficient commitments from investors after a slight pricing flex.

    • 23 Jul 2013
  • Minimax prices deal

    German fire protection equipment provider Minimax Viking has settled the pricing of its new transatlantic loans package following a bank meeting in London on Monday.

    • 23 Jul 2013
  • Salini gets high yield ratings for planned €350m bond

    Salini, the Italian construction company which started roadshowing for a bond issue on Friday, has received speculative grade ratings from Standard & Poor's and Fitch.

    • 23 Jul 2013
  • Manutencoop's €450m bond joins loan-to-high yield pipeline

    Manutencoop, an Italian facility management operator, is looking to sell €450m of high yield bonds in yet another debut transaction. Some 50 of the around 115 issuers in the European high yield market this year have been issuing bonds for the first time — including all the deals being marketed this week.

    • 22 Jul 2013
  • Action flexes deal to attract further creditors

    Action has increased the margins and deepened the discount on its new credit facility in a bid to attract more investors.

    • 22 Jul 2013
  • Infront amends covenant terms before allocation

    Infront intends to allocate its new €300m debt package either on Monday afternoon or on Tuesday. All commitments from investors are in, lead bankers have told EuroWeek, but changes to the covenant terms have further delayed the allocation process.

    • 22 Jul 2013
  • Springer Science to allocate debt

    Investor interest for new transatlantic covenant-lite loan package by Springer Science+Business Media has been flooding in from both sides of the Atlantic, with American investors in particular committing to the debt late last week, leads said. Commitments for the deal from the German publisher are due on Tuesday.

    • 22 Jul 2013
  • Cinven acquires Host Europe in LBO

    Private equity firm Cinven has reached an agreement to buy the UK's website hosting company Host Europe from Montagu Private Equity. The £438m buy-out money will come from equity provided by Cinven’s Fifth Fund, and senior debt.

    • 22 Jul 2013
  • Fotolia ready for second shot at loans market

    Leads are ready to re-launch Fotolia’s transatlantic loan package, having substantially revamped the original structure after taking the deal off the market two weeks ago.

    • 22 Jul 2013
  • TSL Education debt commitments due on Friday after possible tweaks

    TSL Education has set the deadline for final commitments to its new £250m debt package for Friday this week. The UK educational publisher may also change the terms of the deal’s covenants before then.

    • 22 Jul 2013
  • CeramTec launches €307m high yield part of LBO financing

    CeramTec, the German ceramics manufacturer, has announced its €306.7m high yield bond to support its takeover by private equity firm Cinven.

    • 22 Jul 2013
  • Gamenet brings Italian gambling back to high yield with €200m bond

    Gamenet, an Italian gambling provider, wants to replace all its debt and shareholder loans with a new €200m high yield bond. The company has not even signed a new revolving credit facility because it "generates so much cash," according to a banker close to the deal.

    • 22 Jul 2013
  • Maisons du Monde raises €325m at tight end of guidance

    Maisons du Monde has sold its €325m buyout bond at the tight end of price guidance. The notes came with a 9% coupon at par on Monday.

    • 22 Jul 2013
  • Dignity adds £75m to funerals WBS inside its own curve

    Dignity, the UK’s second largest provider of funeral services, tapped its whole business securitization today for £75m, and enjoyed such strong demand that the bonds were priced at spreads much tighter than where the outstanding notes had been trading.

    • 19 Jul 2013
  • Moody’s seeks swap counterparty rating feedback

    Moody’s is seeking industry feedback on proposed changes to the way it assesses how ratings of swap counterparties can affect cash flow securitizations.

    • 19 Jul 2013
  • Schaeffler blasts away PIK record with €1.6bn stormer

    Schaeffler, the German family-owned ball bearing maker, sold what bankers said was the biggest ever payment-in-kind toggle bond on Thursday, proving that credit investors’ risk appetite is surging back, even for a product that is among the riskiest structures in the high yield arsenal.

    • 19 Jul 2013
  • Deutsche Annington completes rebirth via €1.3bn unsecured deal

    Deutsche Annington Immobilien, the German housing estate company owned by Terra Firma, successfully raised the €1.3bn it wanted with its first unsecured bond issue on Wednesday. The deal was not exactly a new asset class, but certainly an unusual credit in Europe — unsecured bonds from a residential property real estate investment trust.

    • 19 Jul 2013
  • Maisons du Monde launches €325m bond for Bain buy

    Maisons du Monde, the French furniture retailer, has launched a high yield bond to finance its buyout by Bain Capital in June. The senior secured deal had been expected.

    • 18 Jul 2013
  • Fears of buyer-seller stand-off as DNA pulls

    DNA, the Finnish telecommunications group several private equity firms were circling, has decided not to go ahead with a sale — a blow to the European leveraged finance market.

    • 18 Jul 2013
  • Travelex launches £350m HY bond to refi PIK loan

    Travelex, the UK bureau de change chain and foreign exchange dealer, wants to issue a £350m high yield bond in two tranches, to refinance its £178m of senior PIK loan facilities, signed in 2007.

    • 18 Jul 2013
  • Marlin pays 10.5% for £150m on fifth debt collector bond

    UK debt purchaser Marlin Financial made its £150m bond debut on Thursday — the fifth high yield issuer from the sector.

    • 18 Jul 2013
  • Debussy Toys R Us finds a private place

    The £260m Debussy DTC commercial mortgage securitization — which is backed by a loan secured on Toys R Us’ UK portfolio of retail and distribution units — is understood to have been privately placed.

    • 18 Jul 2013
  • UniCredit’s German HVB entity boosts CLO pipeline with Geldilux-TS-2013

    UniCredit subsidiary HypoVereinsbank is in the market with a securitization of small-to-medium enterprise loans from its Geldilux collateralised loan obligation programme.

    • 18 Jul 2013
  • Supply scarcity leaves investors long of cash as GRAND repays

    Deutsche Annington Immobilien is set to fully repay noteholders in its German Residential Asset Note Distributor (GRAND) commercial mortgage securitization—the largest-ever European CMBS—on Monday, July 22. Market participants hailed the move as a positive for the European market, though some are wary over how investors may put that money to work while paper remains scarce.

    • 18 Jul 2013
  • ICG, Ares CLOs underscore return of euro dealflow

    The steady flow of new collateralized loan obligations in Europe continued this week with Ares Management and Intermediate Capital Group each pricing new transactions. One London-based investor said they were two of the strongest CLOs seen since the market’s reopening.

    • 18 Jul 2013
  • Levloan lenders say more time needed as July deal surge strains deadlines

    Borrowers seeking financing through the European leveraged loan market are experiencing big delays as a result of the number of deals being marketed this month, writes Olivier Holmey.

    • 18 Jul 2013
  • Leveraged loan market syndicated loans, news in brief - July 19, 2013

    CeramTec markets new transatlantic debt – Trescal wraps up loan supporting LBO

    • 18 Jul 2013
  • Trescal wraps up loan supporting LBO

    Trescal this week received final orders for its new €168m leveraged loan package. The industrial measurement services company launched the deal late last month and is now in the documentation phase.

    • 18 Jul 2013
  • Schaeffler accelerates pricing of PIK bond to today

    Schaeffler has accelerated the pricing of its €1.5bn-equivalent PIK toggle bond. The B2/B- rated five year notes are expected to be priced this afternoon, after the leads released guidance on Wednesday evening and were set to close books at 2pm today.

    • 18 Jul 2013
  • Club Med takes summer off loans market

    Club Méditerranée has chosen to wait until early September to launch its new set of bank loans. The French holiday resort company had originally planned to issue €240m of bank loans this month and allocate them sometime in August, but chose to postpone because of delays in obtaining approval.

    • 18 Jul 2013
  • Infront postpones debt allocation for third time

    Infront expects to allocate its new €300m debt package either late on Thursday or on Friday, having fallen short of placing it in full earlier this week.

    • 18 Jul 2013
  • Action expected to delay loan allocation

    Leads on the new loan for Action expect that they will need to extend the deadline for commitments to ensure the facility is fully subscribed. The original deadline for commitments was set for Thursday (July 18), but that is likely to be extended for a few days to allow the final accounts to participate.

    • 18 Jul 2013
  • Marlin guides small debut high yield bond in 10.5% area

    Marlin, the UK debt purchaser, hopes to price its £150m debut high yield bond today. Yield guidance for the seven year senior secured bonds is the 10.5% area.

    • 18 Jul 2013
  • Deutsche Annington makes unsecured debut for €1.3bn

    Deutsche Annington Immobilien, the German housing estate company owned by Terra Firma, successfully raised the €1.3bn it wanted with its inaugural unsecured bond issue today.

    • 17 Jul 2013
  • GRAND to repay; seen as positive for CMBS

    Deutsche Annington Immobilien is set to repay in full noteholders in its German Residential Asset Note Distributor (GRAND) commercial mortgage securitization — the largest ever European CMBS — on Monday July 22. Industry professionals are hailing the move as positive for the region’s market.

    • 17 Jul 2013
  • Numéricable delays loan A&E

    Numéricable has postponed the deadline for commitments to its loan amendment and extension because of mixed feedback from investors.

    • 17 Jul 2013
  • Schaeffler to revamp holdco debt with €1.5bn PIK toggle bond, €2.4bn loans

    Schaeffler is testing high yield investors' appetite for risk. The German ball bearing maker is marketing a €1.5bn payment-in-kind toggle bond alongside some €2.4bn of loans to refinance all the debt at its holdco level.

    • 17 Jul 2013
  • Debussy Toys "R" Us CMBS said to be privately placed

    The £260m Debussy DTC commercial mortgage securitization—which is backed by a loan secured on Toys "R" Us’ UK portfolio of retail and distribution units—is understood to have been privately placed.

    • 16 Jul 2013
  • Maisons du Monde launches long awaited high yield bond

    Maisons du Monde, the French furniture retailer, has launched its high yield bond to finance its buyout by Bain Capital. The senior secured deal had been expected, after the underwriters premarketed a transaction last week.

    • 16 Jul 2013
  • DNA pulls sale, IPO as shareholders look for new business plan

    DNA, the Finnish telecommunications group several private equity firms were circling, has decided not to go ahead with a sale. The shareholders met on Monday and then chose to carry on with existing operations.

    • 16 Jul 2013
  • EMEA high yield firms have $101bn to repay next year

    Near term maturities for speculative grade rated companies in Europe, Middle East and Africa are surging, according to a report by Moody's. The amount of debt issued by these companies that matures next year, has reached $101bn — a 20% increase from Moody's calculation of 2014 maturities a year ago.

    • 16 Jul 2013
  • Marlin brings debt collectors back to high yield with £150m deal

    Marlin Financial hopes to sell £150m of high yield bonds. The UK debt purchaser is the fifth of its kind aiming to access the market.

    • 16 Jul 2013
  • UniCredit adds Geldilux German SME CLO to pipeline

    UniCredit subsidiary HypoVereinsbank is in the market with a securitization of small-to-medium enterprise loans from its Geldilux collateralised loan obligation programme.

    • 15 Jul 2013
  • ICG prices St Paul’s CLO return, two-thirds ramped

    Intermediate Capital Group priced its Lloyds Bank-arranged European collateralised loan obligation, the €400m St Paul’s CLO II, on Monday morning. The portfolio was more than two-thirds ramped up at closing, partly because the transaction was seeded by a previous ICG CLO that is due to be called by the manager.

    • 15 Jul 2013
  • Findus success ends €3.7bn week for high yield bonds

    Findus, the fish and frozen food company, sold its £414m debut bond on Friday to refinance all its loans. The deal was the last in an active week for new issuance in the European high yield market.

    • 15 Jul 2013
  • UK oil well group Expro sells $100m tap after equitising shareholder loans

    Expro, the UK oil and gas well services provider, has raised $100m of additional 8.5% 2016 notes. The tap was priced at the tight end of guidance at 104.5 to yield 6.9897%.

    • 15 Jul 2013