EI Group bonds

Any comments please, on the recent (month or so) price fall in EI Group bonds.
The recommended takeover doesn't seem to comment on the bond holders; are the new owners obligated to honour annual interest and redemption of issued debt? As bonds 2025/2031 are asset backed, any cause to worry ?
As the yield to maturity seems attractive at the moment....should I sell/hold or buy more?
Thank you.


  • My understanding is that as these (AK44) are not investment grade rated the issuer has the option to redeem at par on change of control. I may have misread the prospectus but the drop in price seems to confirm that, as does discussion on other boards. I hope I'm wrong.
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