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.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note