Bond
Intelsat New Bond Issue Faring Very Well In Weak Credit Market
Submitted by Tyler Durden on 01/29/2009 20:27 -0500
Intelsat came to market in a Goldman Sachs syndicated bond offering for $400 million of 8.875% Senior Notes due 1/2015. The B3/BB- issue for reference entity Intelsat Subsidiary Holding Company, had been upsized from $200 million, and was snapped up due to its original issue discount, pricing at 88.5% for an 11.6% yield. The proceeds will be used to pay down existing debt.
Intelsat New Bond Issue Faring Very Well In Weak Credit Market
Submitted by Tyler Durden on 01/29/2009 20:27 -0500
Intelsat came to market in a Goldman Sachs syndicated bond offering for $400 million of 8.875% Senior Notes due 1/2015. The B3/BB- issue for reference entity Intelsat Subsidiary Holding Company, had been upsized from $200 million, and was snapped up due to its original issue discount, pricing at 88.5% for an 11.6% yield. The proceeds will be used to pay down existing debt.
Media Popularity Rater Nielsen Coming to a Vicious HY Market with Bond Offering
Submitted by Tyler Durden on 01/21/2009 14:36 -0500The expectation is that Nielsen Co. (Caa1/CCC+) will be coming to market momentarily to take advantage of "demand" for junk debt. Apparently the issue will be $300 million maturing in 5 years. We say the OID will be 25 points and we also take the under.
