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Tugnait: expects management to turn Tim Hellas around |
A market that had spent the summer holidays worrying about oversupply lapped up what was in mid-October still the only European high-yield jumbo of the autumn. Greek mobile phone provider Tim Hellas’s €925 million senior secured portion sold at three-month Euribor plus 350 basis points, achieving the aim of borrowing at bank loan prices while attracting a mix of investors and incurring less restrictive covenants. The €355 million senior unsecured tranche carries an 8.5%
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