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Com Hem is planning to sell the first payment-in-kind bond in Europe’s high yield market since last year. The Swedish cable operator, bought out by BC Partners last year, wants to raise €250m to refinance its PIK loan.
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Sappi, the Austrian-South African paper maker, has offered to buy back its 2014 high yield bond in euros. The tender offer for the 11.75% senior secured notes closes on Wednesday, November 21.
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Perstorp, the Swedish speciality chemicals maker controlled by PAI Partners, has sold around $1.08bn of bonds in three tranches. The high yield bonds were divided between $380m and €270m of senior secured notes and $370m of second lien notes.
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Croatian power grid company Hrvatska Elektroprivreda has picked dollars over euros for its first international bond issue. The $500m of 2017 senior unsecured notes were priced late last Friday evening London time (November 2) with a 6% coupon at par.
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Italian companies are back in the European high yield market as Rottapharm and Guala Closures sold bond transactions this week. Both are true speculative grade credits with bond ratings of Ba3/BB- and B1/B, respectively.
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Perstorp, the Swedish speciality chemicals maker controlled by PAI Partners, plans to sell a $1.09bn debut high yield bond on Friday.