Saturday, 25 October 2014
Last updated 1 day ago
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.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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