MMI debut heralds return of high-yield bond market

MMI Holdings closes a $300 million debut high-yield bond, while Core Education & Technologies decides to postpone its deal.

MMI debut heralds return of high-yield bond market
MMI is one of the biggest makers of precision mechanical components, accounting for 20% of world disk drives shipped

MMI International, a precision parts maker, made its debut on Friday with a $300 million high-yield bond, encouraging debt bankers to believe that the sub-investment grade market is open once again after months of inaction.

MMI, which was taken private in July 2007, is headquartered in Singapore and has more than 18 manufacturing facilities across China, Singapore, Thailand, Malaysia and the US. KKR owns 73% of the group and management owns the remaining...

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