mirant-bond-deal-interrupted-by-pending-asset-sale

Mirant bond deal interrupted by pending asset sale

Any prospective debt deal is likely to have to wait for the completion of the sale of the Philippine assets.
In June, Credit Suisse fended off advances from the regionÆs leading investment banks for a piece of a proposed benchmark sized bond deal for Mirant Philippines.

The announcement that Credit Suisse had won the sole lead for a deal that had the potential of reaching upwards of $750 to $1 billion was seen as a major coup in what at the time was a very sluggish market.

Unfortunately the jubilation would be short lived. Earlier this month the announcement that parent company Mirant, which is based in Atlanta, was looking to sell the Philippine asset all but ended any possibility of a bond deal for the time being as the parent will likely not be...
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