G-Steel forges high-yield debut

G-Steel manages to prices rare high-yield dollar bond after downsizing issue size.

Following a slight delay to allow investors extra time to conduct due diligence, sole book runner UBS priced a downsized five-year callable bond for debutant G-Steel of Thailand in New York on Monday September 26. The final issue size for the B1B rated, Reg-S bond was set at $100 million compared to initial estimates around the $150 million level.

The notes were priced at 98.116% with a coupon of 10.5% to yield at 11%,...

To continue reading, please login or register for free

Click for more on: gsteel | forges | highyield | debut

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 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 ...