Seeking Alpha

Investors slug it out to get a piece of Reynolds' $3.25B high-yield offering, priced at 5.75%....

Investors slug it out to get a piece of Reynolds' $3.25B high-yield offering, priced at 5.75%. Some were left with little or no allocation despite the size of the deal being increased from an originally planned $1B. Most of the money will be used to repay debt, but some will be for general purposes, meaning the firm has increased leverage. "High yield is not really 'high yield' any longer," writes Sober Look.
Comments (1)
  • KKR and the other LBO and hedge fund companies are the biggest winners of the zero interest policy....along with the politicians who can continue to spend 24% of GDP while tax receipts are only 18% of GDP: Professor Bernanke will print the difference.
    16 Sep 2012, 11:50 AM Reply Like
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