HY Resort Trades Up

HY Resort Trades Up

Caribbean Bonds

Playa Resorts Holding’s new $300m 2020 NC3 senior unsecured bond traded up following pricing, after the transaction generated $2.4bn demand. The Caa1/B rated startup hotel operator focused on Mexico, the Dominican Republic and Jamaica priced at par with an 8.00% coupon to yield at the tight end of 8.00%-8.25% guidance. The bonds were heard trading up at 102.5 in the secondary Tuesday. Participation came mainly from US high-yield accounts, with some EM-focused buyers, bookrunners say, with only 1

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial