Investors with $300 million burning a hole in their pocket will be able to pick up the triple hook rated piece of media paper at a 14.5-14.75% yield. We say no way jose.
The 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.