Pershing Square Holdings this week issued private placement debt totaling $200 million for a 12-year maturity with a coupon rate of 3%.
According to the announcement the 2032 Bonds, as they are called, will be unsecured and will rank equally in right of payment with the unit’s $1 billion of 5.5% bonds that are due July 15, 2022. The 2032 Bonds are callable two years prior to their maturity at par with no penalty.
This deal follows the backing of the firm’s Continue Reading Unlock this article instantly, along with the rest of our premium content and daily, weekly and monthly newsletters. We offer pay-as-you-go monthly subscriptions and discounted annual subscriptions with additional benefits: access to Alternatives Watch Research articles and our Annual Investor Compendium.
