(Reuters) - The sale will now include a $550 million issue of senior
notes due in 2015 that will have a toggle feature for the first
four years only, meaning interest may be paid in cash or
additional notes. It will also include $550 million of cash-pay
senior notes due in 2015. A $450 million subordinated note has
been withdrawn.
Language in the bond covenants indicates, however, that the
company intends to issue the $450 million portion at a later
time as subordinated discount notes, said KDP market analyst
Justin Monteith.
Read more at Reuters.com Bonds News
notes due in 2015 that will have a toggle feature for the first
four years only, meaning interest may be paid in cash or
additional notes. It will also include $550 million of cash-pay
senior notes due in 2015. A $450 million subordinated note has
been withdrawn.
Language in the bond covenants indicates, however, that the
company intends to issue the $450 million portion at a later
time as subordinated discount notes, said KDP market analyst
Justin Monteith.
Read more at Reuters.com Bonds News
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