London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

M&G to repurchase undated bonds with skipped coupons

November 26/2010

(Bloomberg Business Week) -- Mossi & Ghisolfi International SA, an Italian chemicals company that skipped coupons on perpetual bonds issued before the credit crunch, now wants to repurchase the debt at a 55 percent discount.

M&G will pay 45 cents on the euro for its 200 million euros ($266 million) of subordinated 7.5 percent notes, which were quoted at about 12 cents before the Nov. 22 buyback started, according to the offer document. The company is still paying a significant premium to the market price, said Lorenzo Montagna, M&Gs director of corporate strategy in Milan.

M&G is the worlds largest producer of polyethylene terephthalate for packaging and employs more than 3,000 staff.


Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe