Latest news with #FloraFoodGroup
Bloomberg
02-07-2025
- Business
- Bloomberg
Junkiest Sale in Year Shows Extent of Europe's Credit Rally
Flora Food Group BV is the first issuer in Europe rated one of the lowest levels of junk to sell bonds in nearly a year, a sign of investors' insatiable appetite for risk. The KKR Inc. -backed maker of Flora and Country Crock spreads priced €400 million ($471 million) of senior unsecured notes on Monday, a deal designed partly to refinance existing debt. The deal's yield of 8.625% is about four percentage points lower than an index of similar-rated bonds, and the sale, from books opening to pricing, was completed in the same day. That's fast for the high-yield market.
Bloomberg
11-02-2025
- Business
- Bloomberg
KKR Said to Hold Flora Business for Longer to Tackle Debt Pile
KKR & Co. is now likely to hold onto the maker of Flora and Country Crock spreads until at least 2026, as it seeks to reduce its debt before any listing or sale, according to people familiar with the matter. The private equity firm shelved a sale of Flora Food Group — previously called Upfield Group — last year, after negotiations on a $10 billion sale to Abu Dhabi's sovereign wealth fund fell apart due to price disagreements. KKR was considering either an initial public offering or minority stake sale, with a listing to take place in 2025 at the earliest, Bloomberg reported at the time.
