• Triton

The ham sandwich IPO

In her article for Bloomberg, Katherine Doherty reports on the impact that Chewy's strong IPO has had on the bonds for parent company PetSmart, whose 2023 notes have risen from 56 cents on the dollar nearly back to par. Chewy and PetSmart may have benefited from an exceptionally strong IPO market, said Triton's Rett Wallace in the article. "You could take a ham sandwich to the public market right now and it would be received positively," said Wallace. Full article on Bloomberg - HERE