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The Daily Chase: Hunt for yield reaches Cineplex; Inter Pipeline launches review


The Daily Chase: Hunt for yield reaches Cineplex; Inter Pipeline launches review
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How’s this for a sign of the times: Our Bloomberg partners are reporting Cineplex is finding plenty of demand for the $200-million debt financing that’s mandated by its lenders in exchange for continued covenant relief. According to Bloomberg’s intel, Cineplex’s bankers have rounded up approximately $1 billion in preliminary interest and are looking to push the bonds with a sub-8 per cent yield. All that for what has to be one of Canada’s hardest-hit companies during the pandemic. We’ll explore what this tells us about investor psychology and the hunt for yield in today’s low rate environment. ....

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