KKR-backed MMI plans $300m high-yield bond issue
MMI International, a KKR portfolio company, plans to issue a $300 million high-yield bond to refinance debts incurred through its 2007 buyout. The move indicates that non-traditional funding channels are opening up for private equity firms at a time when equity sales are challenging and bank financing is increasingly difficult to access.
Singapore-based MMI, which manufactures components for hard disk drives, has appointed Credit Suisse, J.P. Morgan and UBS as lead banks for the five-year bond, Reuters reported. KKR Capital Management...
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