European LBo Bond Market Comes Back To Life

The European leveraged buyout (LBo) bond drought is over. On October 27, Swedish cable operator Norcell Sweden Holding 3 AB has successfully priced the first European LBo bond in over a quarter of a year. Norcell Sweden's SEK3.5bn (Us$534mn) corporate high yield bond was issued to replace a bridge loan supporting the US$2.6bn buyout of cable TV and telecoms group Con Hem AB from private equity giant Carlyle Group .

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