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Lowell Group "sets bond price"
Lowell Group is set to become the first UK debt purchaser to issue a bond, Credit Today understands. It is believed the price has been set on a £200m seven-year high-yield bond in the area of 10.75%. It is thought the bond will be used for refinancing purposes. Ratings agency Standard & Poors (S & P) has assigned a BB- long-term counterparty credit rating to the firm, and is assigning a separate rating to a proposed £200m of senior term notes issued by Lowell’s wholly owned subsidiary, Lowell Group Financing PLC......Read more here--: Lowell Group "sets bond price"-
#15corpio commentedEditing a commentDebt purchaser Lowell Group has placed a £200m high-yield bond with a 2019 maturity and an annual interest coupon of 10.75%. The proceeds of the issue will be used to refinance existing debt. JPMorgan Chase & Co. led the transaction and Lloyds Banking Group Plc acted as joint bookrunner....Read more here-: Lowell Group places £200m bond
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