Investors clamour for cheap AA refinancing

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Investors clamour for cheap AA refinancing

AA Van
The AA struggle to get one of their recovery vans unstuck from Wimbledon carpark No.4 after helping hundreds of other cars out of the mud ridden fields that have been created by the non stop rain today (Thursday). Photo by Adam Butler/PA/EDI | Adam Butler/PA Archive/PA Images

UK vehicle breakdown recovery and car insurance company the AA plc sold £550m ($726.63m) of new bonds on Tuesday as part of liability management exercise involving buying back existing debt and repaying a term facility, but it paid a juicy spread to get the deal done.

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