Jostens Parent's Bondholders Reap Windfall From Jarden Takeover
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Bondholders of yearbook maker Jostens Inc. are reaping a sudden windfall from the company’s planned takeover by Jarden Corp.
Investors in Jostens parent Visant Holding Corp.’s $737 million of notes due October 2017 saw the value of their holdings soar by more than 18 cents to 102 cents on the dollar on Wednesday at 10:42 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. The debt rose after the company agreed to the $1.5 billion acquisition by Jarden.