DSG International Bonds May Yield 9 to 9.25 Percent
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DSG International Plc’s sale of five-year junk bonds may be priced to yield 9 percent to 9.25 percent, as the U.K.’s biggest electronics retailer seeks to extend the maturity of its debt.
DSG plans to sell up 150 million pounds ($230 million) of five-year bonds, depending on the results of a buyback offer for existing shorter-dated bonds that’s due July 23, according to bankers involved in the transaction. The Hemel Hempstead, England-based company, which owns the Dixons and Curry’s appliance-shop brands, offered July 15 to repurchase as much as 140 million pounds of its 6.125 percent bonds due in 2012.