Baring-backed Nord Anglia returns to Asia high-yield market
Baring Private Equity Asia-owned Nord Anglia Education has once again tapped Asia’s high-yield market, raising $165 million through a bond issue. This is the third time Nord Anglia has raised debt financing in the last 18 months – and the first of these was also the first time a financial sponsor in Asia issued a high-yield bond for dividend recap purposes.
The latest issue is an additional offering to the bond issued in March 2012, which had an initial size of $325 million, The Wall Street Journal reported. Terms and conditions are the same but pricing is...
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