Top stories

  • CVC’s AR Packaging ups leverage at no extra cost

    AR Packaging, the Swedish maker of packaging for food, increased its LBO loans with a dividend recap deal on Tuesday. The move follows a trend of loan borrowers taking on more leverage ahead of new European Central Bank guidance on leverage limits.

    • 15 Aug 2017

  • CVC’s AR Packaging ups leverage at no extra cost

    AR Packaging, the Swedish maker of packaging for food, increased its LBO loans with a dividend recap deal on Tuesday. The move follows a trend of loan borrowers taking on more leverage ahead of new European Central Bank guidance on leverage limits.

    • 15 Aug 2017
  • How to tempt US sponsors to step up in Europe

    US private equity firms keep an eye on European deals, but, according to some bankers, several firms have long had doubts about the eurozone’s future — which has deterred them from dealmaking. Now that Germany and France are signalling a zealous commitment to the European project, the chance is ripe to regain their trust.

    • 15 Aug 2017
  • North Korea fears prompt euro CLO trading spike

    The prospect of nuclear conflict between the US and North Korea led to increased trading of CLO mezzanine debt in the secondary market, but the market recovered quickly this week as fears receded.

    • 15 Aug 2017
  • Stada buyout proving difficult pill to swallow

    Bain Capital and Cinven’s second attempt for German pharmaceuticals manufacturer Stada could meet the same fate as their last one later this week with shareholders tendering around a third of the firm’s shares, leaving only until midnight on Wednesday for the 63% threshold to be reached.

    • 14 Aug 2017
  • Trinseo opens the hotline for refi dollar deal in Europe

    Trinseo, a US manufacturer of plastics, latex binders and synthetic rubber, opened investor calls on Monday for a new unsecured bond, as it plans to repay all of its bonds due in 2022.

    • 14 Aug 2017
  • Direct lending open for UK business in August

    Private equity firms have deployed their direct lending arms in three UK mid-size businesses in the past seven days, just as public market bankers begin to fret about the effects of Brexit upon the sterling market.

    • 14 Aug 2017
  • HY rally may face trying times after September, say participants

    The European high yield bond market will enter the second half of the year in extraordinary shape, with average coupons at all-time lows and a surge of issuance. Can it get any better? Bankers and investors think not.

    • 10 Aug 2017
  • Tesla drives off with covenants on $1.5bn bond debut

    US electric car firm Tesla was roadshowing a $1.5bn eight year debut bond offering this week. The company can do no wrong in many observers’ eyes, although stripped back documentation is likely to deter at least some investors from the deal.

    • 10 Aug 2017
  • EQT’s Vetcare adds to loan as sentiment sours over UK

    Independent Vetcare, a veterinary group based in the UK, is back in the market with an add-on to the sterling loans that funded its leveraged buyout in April.

    • 09 Aug 2017
  • New Look reveals HY cracks over UK retail

    UK fashion retailer New Look saw its bonds trade down after poor quarterly results this week just as fears mount of a downturn for the sector. That has left high yield investors divided about the implications for issuance from New Look's peers.

    • 09 Aug 2017

High Yield priced deals database

DateIssuerMaturityCur.SizeCoupon
20-Jul-17IPD 3 BV17-Jul-24175E +450
20-Jul-17IPD 3 BV17-Jul-243254.5%
13-Jul-17Maxeda DIY Holding BV 15-Jul-224756.125%
13-Jul-17NMG Finco plc01-Aug-22$2505.75%
13-Jul-17NMG Finco plc 01-Aug-22£3705%


Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 JPMorgan 13,737.58 53 6.79%
2 BNP Paribas 13,423.05 69 6.63%
3 Goldman Sachs 11,651.64 43 5.76%
4 Deutsche Bank 10,773.25 59 5.32%
5 Bank of America Merrill Lynch 10,450.47 41 5.16%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 5,262.65 41 8.27%
2 Goldman Sachs 4,580.64 36 7.20%
3 Deutsche Bank 4,249.17 39 6.67%
4 Barclays 3,956.08 33 6.21%
5 Credit Suisse 3,928.87 43 6.17%

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 14 Aug 2017
1 JPMorgan 13,737.58 53 6.79%
2 BNP Paribas 13,423.05 69 6.63%
3 Goldman Sachs 11,651.64 43 5.76%
4 Deutsche Bank 10,773.25 59 5.32%
5 Bank of America Merrill Lynch 10,450.47 41 5.16%

Bookrunners of European HY Bonds

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 5,262.65 41 8.27%
2 Goldman Sachs 4,580.64 36 7.20%
3 Deutsche Bank 4,249.17 39 6.67%
4 Barclays 3,956.08 33 6.21%
5 Credit Suisse 3,928.87 43 6.17%

Bookrunners of Dollar Denominated HY Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 15 Aug 2017
1 JPMorgan 24,048.19 185 10.98%
2 Citi 19,193.03 146 8.76%
3 Bank of America Merrill Lynch 17,906.11 157 8.17%
4 Goldman Sachs 15,915.08 114 7.27%
5 Barclays 15,416.88 101 7.04%