Towergate leverages sister companies to secure re-fi

Towergate's holding company KIRS managed to price around
£800mn ($1.02bn) of debt on Tuesday through the sale of two
six-year notes, but the firm was forced to accept higher yields and
structural tweaks to get the issuance away following investor
pushback.
KIRS is seeking to leverage the cash-generative companies that
sit alongside Towergate under the newly formed holding company to
repay £500mn of debt put in place during the broker's
restructuring. This Towergate debt was trading a