CVC Sweetens Yield on Spain Football Bond to Lure Wary Investors
- The private equity firm is marketing a 850 million-euro bond
- Price talk pitched in 7% yield area, higher than rated average
Players challenge the ball during a La Liga football match between Real Madrid CF and RCD Espanyol at the Santiago Bernabeu stadium in Madrid on April 30.
Photographer: Gabriel Bouys/AFP/Getty ImagesThis article is for subscribers only.
CVC Capital Partners is raising the yield on a 850 million-euro ($896 million) junk bond to reel in investors skittish about its foray into the world of Spanish league football.
Initial price talk on Wednesday showed both portions of the deal indicated at levels wider than unofficial guidance reported by Bloomberg earlier this week, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it.