Asia sees first HY bond-financed LBO since 2011

Blackstone-backed Pactera raises the region’s latest high-yield debt used to fund a leverage buyout.

Asia sees first HY bond-financed LBO since 2011

Pactera, a Chinese IT consulting and outsourcing company, has sold a $275 million seven-year bond Asia’s first high-yield note used to fund a LBO transaction since 2011. 

The bond - that is callable in the third year - was issued on Thursday through Pactera sponsor BCP Singapore VI Cayman Financing and is the first seven-year LBO financing package for a Greater China deal.

Pactera’s deal has a coupon of 8%,...

To continue reading, please login or register for free

Click for more on: leveraged loans | asia | pactera | china | private equity

Print Edition

FinanceAsia Print Edition

CONFERENCES