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 B1/B+ rated, Reg-S bond was set at $100 million compared to initial estimates around the $150 million level.

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