(Reuters) - To finance the acquisition, the company had initially
planned to sell $3.8 billion in debt, which included $1.15
billion in toggle payment-in-kind notes, said Robert Lee,
analyst at KDP Investment Advisors in Montpelier, Vermont.
Investor reticence toward this kind of note, however, led
them to reduce the PIK component to 50 percent, he said. The
remainder of the bond issue will now be bonds that have cash
interest payments.
Read more at Reuters.com Bonds News
planned to sell $3.8 billion in debt, which included $1.15
billion in toggle payment-in-kind notes, said Robert Lee,
analyst at KDP Investment Advisors in Montpelier, Vermont.
Investor reticence toward this kind of note, however, led
them to reduce the PIK component to 50 percent, he said. The
remainder of the bond issue will now be bonds that have cash
interest payments.
Read more at Reuters.com Bonds News
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