JPMorgan Is Trying to Salvage Junk-Bond Sale for Alarm Firm Brinks
- Investors have shunned 10% junk bond sale for Brinks Home
- Bankers are soliciting investor offers to complete refinancing
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JPMorgan Chase & Co. is still laboring to sell $1.1 billion of bonds for debt-laden Brinks Home after investors shunned the company’s original offer of a 10% yield for the notes, according to people with knowledge of the matter.
The bank is asking prospective buyers to come up with their own proposals to get a deal done, which may include a higher yield or a different structure, according to the people, who asked not to be named because the discussions are private.