date:Mar 22, 2013
While that rate has been roughly typical of Double B-rated bond deals in recent weeks, it's certainly not the norm to see debt being used to fund an LBO that prices with such a low coupon, or rate of interest.
This is being priced like a very strong non-LBO Double B bond, said the bond investor. There is definitely an intangible glow around this deal.
But he cautioned: In my view, it's still a highly leveraged transaction.
BUFFETT 'CONFIDENCE'
Order books on the bond deal - structured as a