Spain's Cirsa Offers PIK Bonds in Fresh Test of Risk Appetite
Spanish gaming company Cirsa is planning to issue new payment-in-kind toggle notes, a type of debt that gives issuers the option to delay interest payments until the final maturity date.
Typically seen as more risky than conventional junk bond issuance, the company is planning to offer €320 million ($362 million) of five-year PIK toggle notes to refinance similar existing debt.
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Summer trip? You could learn the language by the time school's out with Babbel.
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