High-Yield Bonds: Deal by Deal
We continue our special series on high-yield bonds with a look at more deals in the market, with our tour guide, Matt Fuller of LevFin Insights.
Northwest Fiber came out with a loan/bond buyout of Frontier Communication assets. This could grease the skids for other regular-way LBOs.
Another flagship deal was for Viking Cruises (B-/B1). Launched as a $675 million five-year issue, the bonds were secured by a first-lien of twenty river boats. All-in pricing was almost 14%. Also sailing along was Royal Caribbean, still with investment grade status. The company sold $3.32 billion of secured bonds….
▶︎ Read May 25 2020 newsletter: here
▶︎ Chart of the Week: here (Source: LevFin Insights)
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