First Pac completes high yield bond

One of the most unusual and taxing high yield issues of the year gets priced.

UBS completed a slightly scaled back $115 million three-year deal for Hong Kong based conglomerate First Pacific yesterday Wednesday. The Reg S transaction in the name of CAB Holdings was priced at 99.35% on a coupon of 8.25% and yield of 8.5% to give a spread of 649bp over Treasuries. On a Libor basis, the deal came out at 608bp, representing a roughly 150bp premium to First Pac's operating company Indofood, whose 10.375% June 2007 bond was trading at...

To continue reading, please login or register for free

Click for more on: first | pac | completes | high | yield | bond

Print Edition

FinanceAsia Print Edition


  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...