Man Sells First Euro-Denominated Bonds

Feb 12 2010 | 5:35am ET

The Man Group this week sold its first bonds in a year-and-a-half, and its first denominated in euros.

The world’s largest publicly-traded hedge fund sold €600 million (US$823 million) in five-year notes. The issuance nearly doubles the amount of Man’s outstanding bond debt, which stood at US$950 million before the offering.

The new bonds are priced to yield 345 basis points in excess of the benchmark mid-swap rate, Bloomberg News reports. The bond sale pushed Man credit default swaps by almost a quarter.

The offering was managed by Credit Suisse, JPMorgan Chase and the Royal Bank of Scotland Group.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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