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Pfleiderer sucks up docs change for better pricing

pfleiderer company 575
By Owen Sanderson
15 Apr 2021

Pfleiderer and its owner, Strategic Value Partners, have minor changes during syndication to the deal docs in its dual-tranche sustainability-linked high yield bond, limiting the group’s flexibility to pay out sale proceeds from its Polish division as a dividend. But the company has succeeded in pushing pricing tight, with the fixed rate bonds set to land at 4.75% area and the floater at 475bp.

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By Owen Sanderson
15 Apr 2021