Man Sells First Euro-Denominated Bonds

Feb 12 2010 | 6:35am 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

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...

 

From the current issue of