December 04, 2024 07:55 GMT
COMMUNICATIONS: WLNFP 27s Holds Onto Gains Despite Bain Capital Pushback
COMMUNICATIONS
WLNFP NR/BBB-[N]
- Worldline’s 27s still managed to close 8bp tighter/15c higher yesterday despite the denial by Bain of interest in a takeover bid, though the headlines did see the line swing over 10bp/30c off intraday highs. Line is streaming 7c cheaper this morning but is still +1.4pts vs. Friday’s close.
- Reminder that the 27s, unlike the 28s/29s does not require a downgrade to HY for a CoC and redemption at par to be triggered.
- 28s and 29s, trading just below/above par were relatively more muted yesterday. Also streaming -7c so far this morning.
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