Tyco: a turnaround story

credit of the month

breen80x80-jpg

In early November, Tyco, the Bermuda-based conglomerate, was able to launch its first bond deal for roughly two years. The deal – a $1 billion, 10-year bond that launched at 165bp over Treasuries – is a remarkable turnaround for a company that was one of last year’s frontrunners in terms of damaging investor confidence – no mean feat.

In early February 2002 the company was locked out of the short-dated commercial paper market when it announced plans to break itself into four parts, es

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: