Blood-letting continues

Bookrunners of the €2.2bn stuck loan backing Mediaset‘s buyout of a 75% stake in Big Brother TV producer Endemol relaunched the deal last week. They offered the paper at 72.50% of its face value, but sold it at 70% to cash buyers and at about 75% to investors requiring financing – allocating €1bn of the deal last Monday and locking in a €300m loss.