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It is Sequa issuing the bonds not PVR. It is just a form of tradeable debt, the yield increases and decreases dependent on the value attributed to it. Unsecured is just like a loan that is unsecured i.e. no fixed or floating charge for non repayment. If the deal is not still on the table PVR would have had to make an announcement. Does anyone know hwo the bond issue is progressing?
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