UK - Boots debt on the move

It has been reported that the banks have recieved orders for just under half of the £5bn senior tranche at a price of 91 percent of face value, with appetite for the debt no doubt being aided by the banks willingness to partially finance the investors buying the debt. Barclays and Unicredit have decided not to sell any of their debt at a discount, while JPMorgan is selling only a small portion. £650m of the £1bn second lien tranche is also up for sale and Goldman Sachs' Mezzanine Fund has snapped up a significant amount of that at 85 percent of face value.

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