Home / Business and Economy / Getty Bond Surges Near-Par After Redemption Announcement
Getty Bond Surges Near-Par After Redemption Announcement
1 Jul
Summary
- Senior secured notes due in 2030 will be redeemed by the company.
- These notes were originally earmarked to fund an acquisition.
- The bond issued by Getty Images Holdings Inc. surged to about 98 cents.
Getty Images Holdings Inc. has declared its intention to redeem the senior secured notes maturing in 2030. These notes were initially allocated to finance a key acquisition.
In response to this redemption announcement, the value of these bonds experienced a substantial uplift. They surged to trade at approximately 98 cents on the dollar on Wednesday.
The bond in question was issued by Getty Images Holdings Inc. specifically to facilitate its acquisition of Shutterstock Inc.
The market reaction indicates a positive reception to the company's decision regarding its debt obligations.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
