Monier prefers callable loan, FRN over cheaper fixed bond

Monier prefers callable loan, FRN over cheaper fixed bond

Monier has sold its EUR 565m of bonds and loans in floating rate products only. The French roof tile maker priced EUR 315m of high yield FRNs and EUR 250m of term loans and scrapped a fixed rate bond tranche, even though fixed rate interest would have been marginally cheaper.

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:Global Capital 2014-04
Format: Artikel
Sprache:eng
Schlagworte:
Bond issues
Debt restructuring
Equity
Fixed rates
International
Loan agreements
Manufacturers
Private equity
Stockholders
Tiles
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:Monier has sold its EUR 565m of bonds and loans in floating rate products only. The French roof tile maker priced EUR 315m of high yield FRNs and EUR 250m of term loans and scrapped a fixed rate bond tranche, even though fixed rate interest would have been marginally cheaper.
ISSN:2055-2165