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Bonheur Bond

Last week, Bonheur ASA issued five-year senior unsecured floating rate notes, priced at 3 month NIBOR + 450 bps. The main terms and conditions of the deal are highlighted in our Guts of the Deal contained herein. The bond carries a shadow rating of B+, two notches lower than the issuer (BB), as a result of the structural subordination to all the debt in the subsidiaries. Proceeds will be used for general corporate purposes.

This is only an excerpt of Bonheur Bond

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Written by: | Categories: Freshly Minted, The Week in Review | December 24th, 2009 |

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