August 15, 2017 |
Telecommunications unit Cable & Wireless (C&W) printed $700m in 6.875% 2027 bonds, returning to the cross-border bond market last week in order to refinance acquisition-related debt.
The B2/B/BB- rated paper priced at par, after bookrunners started initial price talk in the 6.75% to 7% area. Bank of America Merrill Lynch, Barclays, BNP Paribas, Goldman Sachs and Scotiabank were joint bookrunners on the trade.
Orderbooks were almost twice oversubscribed and included commitments from EM
Telecommunications company gets $700m in bonds to refinance acquisition-related debt