FollowAbenoga Yield has no choice but to switch currency, from euro to dollar, on its debut bond. The decision came up after Abenoga struggled to sell an unrated euro deal to its European investors for a week. Now, they are targeting the US dollar currency as they see more potential in it.
The failed attempt to make money in euro was a good and effective learning curve for Abenoga. The company learned that it is very important to tap the right investor base and to have rate agencies’ support when it comes to marketing an unfamiliar structure.
When making a decision regarding the structure, always remember that the debut bond of the company is more important that what you think. It is because the debut bond funds the very first acquisition of assets.
Currently, Abenoga only holds a total of 64 percent of the US-listed Abenoga Yield Plc. On the other hand, the remaining 36 percent shares are already publicly traded. Though Abenoga Yield Plc had a bad start when it comes to their debut bond, it is not too late for the company to rise back. There is never too late and never too soon when it comes to operating a business.
