Securitization - Article Archive

  • Bookrunners of European HY bonds, 29 November 2013

    • 29 Nov 2013
  • Leveraged issuers pile into market for last big deals before year end

    Europe had long been waiting for a wave of large, event-driven leveraged loan transactions. Now, as the year draws to an end, the market appears to have produced just that.

    • 29 Nov 2013
  • Fresenius to sell HY bond to refi €1.8bn Rhön bridge in January

    Fresenius aims to refinance its bridge facility with high yield bonds in January, according to sources with knowledge of the proceedings.

    • 29 Nov 2013
  • Time to shed reputations in the securitization market

    The post-crisis era, in which ABS investors have been highly rewarded for taking minimal risks, is coming to an end. Spreads in peripheral and non-core bonds have raced in, more accurately reflecting the underlying risks involved. It’s time for regulators to follow suit and ensure new rules do the same thing.

    • 29 Nov 2013
  • Leads stunned by success of SAM’s LBO deal

    Loans bankers close to Santander Asset Management Finance’s new $1.2bn-equivalent LBO debt expressed surprise at the deal’s success, as the book closed heavily oversubscribed even after a €70m increase of the euro tranche.

    • 29 Nov 2013
  • Astaldi builds €500m high yield debut on quality book

    Astaldi, the Italian construction company, was one of three Italian high yield firms to sell a bond this week. Its €500m seven year notes priced tightly and traded up.

    • 29 Nov 2013
  • Bluestone in non-conform comeback

    Australian mortgage provider Bluestone Group is looking to place nine tranches of bonds with investors this week, after announcing a securitization of non-conforming residential mortgages.

    • 29 Nov 2013
  • Goldman charges in with first Italian CMBS since crisis

    Goldman Sachs is marketing the first CMBS backed by Italian assets since 2006 and what two market participants said was the first CMBS since the crisis to be backed by new loans, as opposed to refinancing legacy assets. Meanwhile, bank CMBS conduits may be set to reappear in Europe.

    • 29 Nov 2013
  • Altice plans HYB next week to finance acquisitions

    Altice is expected to launch a high yield bond next week, said sources close to the deal. The cable and telecoms business wants to finance its acquisitions of Tricom and Orange Dominicana.

    • 29 Nov 2013
  • Delinquencies rise in Spanish RMBS as macro backdrop takes toll

    Severe delinquencies in Spanish RMBS increased during the second and third quarter of the year, as high unemployment and depressed household incomes continued to take their toll, according to ratings agency, Standard & Poor’s.

    • 29 Nov 2013
  • Fresenius, Tank & Rast show banks back strong credits

    Some of the strongest credits in the European leveraged loan market are proving they can get strong support from their banks.

    • 29 Nov 2013
  • RCI Banque targets mid-week pricing

    Leads on RCI Banque’s German auto loan securitization will open books on Tuesday, with bankers on the deal confident that investor demand is still robust despite a steady run of issuance since October.

    • 29 Nov 2013
  • ABS market unmoved by UK stop to FLS for mortgage

    The Bank of England has refocused the incentives of the Funding for Lending Scheme (FLS) towards business lending for next year to head off a potential housing bubble, but ABS bankers said it had removed only one factor contributing to a dearth of UK RMBS supply in 2013.

    • 29 Nov 2013
  • UBS forms new events group for corporates

    UBS has created an event-driven team to help it win more financing and hedging business from its franchise in European corporate mergers and acquisitions and equity capital markets.

    • 29 Nov 2013
  • Alcatel taps 7yr high yield bond for another $250m

    Alcatel Lucent, the US-French telecoms equipment producer, has tapped its 6.75% 2020 bond, issued three weeks ago, for another $250m, taking the size to $1bn.

    • 29 Nov 2013
  • Leveraged loans — news in brief, November 29, 2013

    HgCapital buys P&I — LBO debt for Poland's Dr Gerard — RAC heavily subscribed — Investors consider Nocibé — Xella extends maturities — Spectrum launches refi

    • 29 Nov 2013
  • EBV Leasing to reopen Austrian ABS

    Lease provider EBV Leasing, a subsidiary of Erste Group Bank, will begin marketing the first public securitization from an Austrian borrower since the financial crisis.

    • 29 Nov 2013
  • Fallen angel Finmeccanica draws IG accounts to €700m bond

    Finmeccanica, the Italian aerospace and defence firm, on Tuesday sold its first bond since it was downgraded to high yield by all three agencies. The €700m long seven year bond still mainly attracted investment grade investors, said a banker.

    • 29 Nov 2013
  • DFC Global pulls sterling, Canadian dollar HY bonds

    DFC Global, the US-listed payday lender, has postponed its $650m-equivalent high yield bond issue in sterling and Canadian dollars because of “current market conditions,” the company said.

    • 29 Nov 2013
  • Revolving Ginkgo ABS set to price next week

    Moody’s has published the provisional rating of French consumer loan finance deal FCT Ginkgo Sales Finance Compartment 2013-1, the first from the programme that is backed by a revolving pool of loans. Crédit Agricole said it will market the deal from Thursday this week with a view to pricing it in the second half of next week.

    • 29 Nov 2013
  • Tank & Rast sells 8x levered HY at 6.75%

    Tank & Rast, the German motorway services business, sold an 8.1 times levered second lien bond inside guidance on Tuesday. And, in line with the bullish market trend, the notes traded over three cash points higher on Thursday.

    • 29 Nov 2013
  • Snai debut trades up in hot HY market

    Snai, the Italian sports betting firm, increased the size of its debut bond issue on Wednesday and priced it tight relative to guidance, but it still traded up in what is a hot market.

    • 29 Nov 2013
  • Private equity ECM revenues hit record highs

    Investment banks’ revenues from financial sponsor equity capital markets activity has hit the highest ever level for the year to date.

    • 29 Nov 2013
  • Fresenius to refinance €1.8bn bridge with high yield bond in January

    Fresenius aims to refinance its bridge facility with high yield bonds in January, according to sources with knowledge of the proceedings.

    • 28 Nov 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, November 27, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 28 Nov 2013
  • Astaldi builds €400m high yield debut on quality book

    Astaldi, the Italian construction company, was the third Italian speculative grade company to sell a bond this week. Its €400m seven year notes priced tightly and traded up.

    • 28 Nov 2013
  • Snai makes €480m debut at tight terms, then trades up

    Snai, the Italian sports betting firm, managed to increase its debut bond issue on Wednesday and price it tightly, and in the present hot market for high yield, the notes traded up.

    • 28 Nov 2013
  • Investors reconsider Nocibé loan after €200m increase

    Potential lenders to a €475m term loan ‘C’ backing Douglas Holding’s takeover of French perfumery chain Nocibé have until early next week to recommit, after the facility was increased by €200m last week.

    • 28 Nov 2013
  • Vion LBO 'B' loan evenly split between euros and dollars

    Darling International has launched a $1.2bn-equivalent loan package backing its acquisition of Vion Ingredients, seeking equal amounts of euros and dollars.

    • 28 Nov 2013
  • Bluestone places full cap stack of Aussie non-conf RMBS

    Bluestone Mortgages successfully placed all nine tranches of its Australian non-conforming RMBS, Sapphire XII 2013-1 Trust, with investors on Tuesday.

    • 28 Nov 2013
  • Xella extends maturities on LBO senior loans

    Xella International, the German maker of building materials, has extended maturities of the senior loans raised at the time of its leveraged buyout in 2008.

    • 28 Nov 2013
  • RCI Banque prices increased deal with enticing pick up

    Lead managers Crédit Agricole, HSBC and Natixis have priced Cars Alliance Auto Loans Germany V 2013-1, an auto loan securitisation from RCI Banque. The transaction offered an attractive spread pick-up compared to Ford which issued a similar deal last week.

    • 28 Nov 2013
  • Altice plans HY bond to finance Dominican Rep acquisitions

    Altice is expected to launch a high yield bond next week, according to sources close to the situation. The cable and telecoms business wants to finance its acquisitions of Tricom and Orange Dominicana.

    • 28 Nov 2013
  • UBS forms event-driven pressure group for DCM, derivatives

    UBS has created an event-driven team to help it win more financing and hedging business from its franchise in European corporate mergers and acquisitions and equity capital markets.

    • 28 Nov 2013
  • Goldman in first Italian CMBS since crisis, US banks may revive conduits

    Goldman Sachs is marketing the first CMBS backed by Italian assets since 2006 and what two market participants said was the first CMBS since the crisis to be backed by new loans, as opposed to refinancing legacy assets. Meanwhile, bank CMBS conduits may be set to reappear in Europe.

    • 27 Nov 2013
  • “Some parties are using the term subprime again. Subprime collateral often had layered risk, pre-crisis. That meant borrowers had poor credit scores, they borrowed above property value and they had over 100% combined LTV. We do not want to see risk layering.”

    —Michelle Patterson, senior director at Kroll Bond Ratings Agency on how the firm may rate collateral outside of QM that also overlaps into non-prime territory.

    • 27 Nov 2013
  • Hertz Sets New Auto Rental Securitization

    Hertz Global Holdings has established a new $2.575 billion securitization platform aimed at facilitating financing activities related to the vehicle fleet of its U.S. car rental business.

    • 27 Nov 2013
  • Danish Mortgage Bond Proposal To Cut Refi Risk

    A proposal by the Danish government that mortgage covered bonds should include mandatory extension provisions “would greatly reduce liquidity risk” associated with refinancing, according to Fitch Ratings, which notes, however, that it raises questions about its practical implementation.

    • 27 Nov 2013
  • European Covered Bond Issuance At 17-Year Low

    Issuance of covered bonds by European banks has totaled $166 billion so far this year, the lowest level since 1996, according to Dealogic.

    • 27 Nov 2013
  • California Lender Completes $247.2 Mln Securitization

    California Republic Bank has completed a prime automobile loan securitization of $247.2 million, backed by $250 million of the bank’s auto loans sold in an underwritten public offering.

    • 27 Nov 2013
  • Top U.S. Banks Face $105 Bln Legal Tab For Mortgage Claims

    The U.S.’s eight largest banks face an additional legal tab of an $56.5 billion and $104 billion to settle mortgage-related claims, according to Standard & Poor’s.

    • 27 Nov 2013
  • Spanish Tourist Belt Sees Highest RMBS Loss Severities On Repos

    Spanish tourist belt—the Mediterranean coast, Andalucía and the Canary Islands—is expected to experience the highest loss severities on repossessed assets in residential mortgage-backed securities in the country, according to Moody’s Investors Service.

    • 27 Nov 2013
  • Revolving Ginkgo ABS to price next week

    Moody’s has published the provisional rating of French consumer loan finance deal FCT Ginkgo Sales Finance Compartment 2013-1, the first from the programme that is backed by a revolving pool of loans. Crédit Agricole said it will market the deal from Thursday this week with a view to pricing it in the second half of next week.

    • 27 Nov 2013
  • Santander AM allocates LBO debt, leads stunned by deal success

    Loans bankers close to Santander Asset Management Finance’s new $1.2bn-equivalent LBO debt expressed surprise at the deal’s success, as the book closed heavily oversubscribed even after a €70m increase of the euro tranche.

    • 27 Nov 2013
  • Fresenius increases bank loan, cuts institutional tranche

    Fresenius has placed the bulk of its new €1.2bn debt package with banks, after increasing its term loan 'A' tranche from €450m to €600m at the expense of the term loan 'B'.

    • 27 Nov 2013
  • Numéricable pays 25bp for €300m extra to refi FRNs

    Numéricable, the French cable firm, increased its new debt package by €300m before allocation earlier this week, aiming to refinance Completel's floating rate notes.

    • 27 Nov 2013
  • Finmeccanica draws mainly IG accounts on €700m fallen angel bond

    Finmeccanica, the Italian air defence and security group, sold its first speculative grade rated bond on Tuesday. The €700m long seven year bond still mainly attracted investment grade accounts, according to a banker.

    • 27 Nov 2013
  • RAC heavily subscribed, reprices all debt and ups new loan to £107m

    RAC, the UK car breakdown service, allocated its new term loan and repriced all its outstanding debt on Tuesday, after closing the books heavily oversubscribed.

    • 27 Nov 2013
  • Snai tightens guidance on debut bonds, ups senior secured

    Snai, the Italian betting company, increased the senior secured tranche of its bond to €320m and revised guidance on both tranches on Wednesday.

    • 27 Nov 2013
  • Astaldi guides high yield debut in 7.25% area

    Italian construction group Astaldi has released price talk for its debut high yield bond. The €400m seven year notes are guided in the 7.25% area.

    • 27 Nov 2013
  • Afren prints $360m, tweaks tender offer

    Afren priced a $360m seven year non-call three bond this week. The deal will fund a tender offer, which Afren has adjusted after a rousing response from early bird bondholders.

    • 27 Nov 2013
  • Conforming Loan Limits To Stay Unchanged For 2014—FHFA

    The Federal Housing Finance Agency announced Tuesday it would maintain the maximum conforming loan limit at $417,000 for one-unit properties and $625,000 in higher-cost markets.

    • 26 Nov 2013
  • Jumbo Originations At Six-Year High

    Non-agency jumbo originations totaled roughly $77 billion in the third quarter, reaching their highest level since early 2007.

    • 26 Nov 2013
  • Home-Equity Defaults Threaten Mortgage Market

    A rising number of defaults on home equity lines of credit originating during the financial crisis may pose a threat to banks as borrowers begin paying down the principal on their loans.

    • 26 Nov 2013
  • MBS Suit Against DM Limited To Bad Loans

    New York Supreme Court Justice Shirley Werner Kornreich has limited a lawsuit by investors against Deutsche Bank to allegations related to what they claim are defective loans, but investors may not try to undue the entire mortgage-backed securities deal.

    • 26 Nov 2013
  • Judge Greenlights MBS Suit Against GE, JPM

    New York Supreme Court Justice Shirley Werner Kornreich has ruled that investors may pursue allegations that General Electric unit WMC Mortgage and JPMorgan Chase misrepresented the quality of loans in a $1.9 billion mortgage-backed securities trust, but limited damages to only those loans that did not meet underwriting standards.

    • 26 Nov 2013
  • Livermore To Take Down Equity On Firm’s First CLOs

    Switzerland-based investment fund and collateralized loan obligation equity buyer Livermore Investments plans to sponsor the equity of the first four deals of joint venture partner Covenant Credit Partners, according to Covenant CEO Marc Boatwright.

    • 26 Nov 2013
  • Good news from S&P: only upgrades in Emea from new criteria

    Standard & Poor’s will not downgrade any European companies as a result of its wide-ranging changes to corporate rating criteria, which it has been preparing since June. However, it has placed eight Asia Pacific companies on CreditWatch negative.

    • 26 Nov 2013
  • EBV Leasing Auto Deal To Reopen Austrian ABS

    Lease provider EBV Leasing, a subsidiary of Erste Group Bank, will begin marketing the first public securitization from an Austrian borrower since the financial crisis.

    • 26 Nov 2013
  • Spanish Lender Offers Unsecured Bond

    Spanish lender Banco Sabadell has begun offering a new three-year senior unsecured bond.

    • 26 Nov 2013
  • B Of E Eyes Limiting Bank Debt

    The Bank of England is planning a year-long review of how it can limit banks’ debt levels, assessing how the leverage ratio should be applied to banks with separate commercial and investment units.

    • 26 Nov 2013
  • European Banks CoCo Surge Expected

    European banks are preparing for a surge in the issuance of contingent convertible bonds (CoCos) in 2014, using the instruments to better avoid losses and avoid taxpayer bailouts.

    • 26 Nov 2013
  • Bank Of Cyprus Hires Ex-RBS Banker

    Bank of Cyprus has hired Euan Hamilton, former deputy ceo at the Royal Bank of Scotland, as a consultant to review loan delinquencies, restructuring and recoveries.

    • 26 Nov 2013
  • EBV Leasing auto deal to reopen Austrian ABS

    Lease provider EBV Leasing, a subsidiary of Erste Group Bank, will begin marketing the first public securitization from an Austrian borrower since the financial crisis.

    • 26 Nov 2013
  • Time to shed reputations in the securitization market

    The post-crisis era, in which ABS investors have been highly rewarded for taking minimal risks, is coming to an end. Spreads in peripheral and non-core bonds have raced in, more accurately reflecting the underlying risks involved. It’s time for regulators to follow suit and ensure new rules do the same thing.

    • 26 Nov 2013
  • Colony Capital To Issue SF Rental In Early 2014

    Colony Capital is preparing a rental income securitization for early 2014 through its subsidiary Colony American Homes and has expanded its credit facility from JPMorgan and Credit Suisse to $1.2 billion.

    • 26 Nov 2013
  • Finmeccanica to sell €600m-€750m bond at 4.75%

    Finmeccanica, the Italian air defence and security group, is set to sell a €600m to €750m bond on Tuesday. The long seven year notes will be its first issue as a speculative grade company.

    • 26 Nov 2013
  • Tank & Rast prices second lien bond inside guidance

    Tank & Rast, the German motorway services business, has priced its €460m second lien bond inside initial price guidance.

    • 26 Nov 2013
  • Snai guides €460m secured, subordinated HY offering

    Italian sports and horse betting company Snai has released price guidance on its €460m senior secured and subordinated bonds.

    • 26 Nov 2013
  • Alcatel taps seven year high yield bond for another $250m

    Alcatel Lucent, the US-French telecoms equipment producer, has tapped its 6.75% 2020 bond, issued three weeks ago. The new $250m portion was priced at par, boosting the total bond size to $1bn.

    • 26 Nov 2013
  • HgCapital buys P&I software maker with senior, mezz debt

    Private equity firm HgCapital has agreed to acquire over 90% of shares in German software developer Personal & Informatik, and plans to buy the rest of the Frankfurt-listed company through a tender offer.

    • 26 Nov 2013
  • Afren set to print $360m to fund tender

    Afren will price a $360m seven year non-call three year bond on Tuesday afternoon. The oil exploration and production company has revised price guidance to 6.75% area.

    • 26 Nov 2013
  • Poland's Dr Gerard to sign Bridgepoint LBO debt

    Dr Gerard, the Polish biscuit producer, is due to sign a Z320m (€76m) debt package to back its leveraged buyout by Bridgepoint.

    • 26 Nov 2013
  • Freddie Mac Issues 19th Multifamily MBS

    Freddie Mac has issued its 19th offering of structured pass-through certificates, which are multifamily mortgage-backed securities.

    • 25 Nov 2013
  • Merrill, B Of A MBS Suit Dismissal Affirmed

    The U.S. Court of Appeals for the Second Circuit has affirmed the dismissal of a $143 million lawsuit against Merrill Lynch and Bank of America brought by South Korea’s Woori Bank related to mortgage-backed securities.

    • 25 Nov 2013
  • FHFA Issues Securitization Progress Report

    The Federal Housing Finance Agency has issued a progress report, detailing advancement on securitization infrastructure and credit risk sharing.

    • 25 Nov 2013
  • U.S. Auto ABS Credit Quality To Slip

    The credit quality of loans in U.S. automobile asset-backed securities is expected to decline slightly in 2014 with issuance likely to be flat, according to Moody’s Investors Service.

    • 25 Nov 2013
  • Banks Slapped With $100 Mln LIBOR Suit

    Darby Financial Products and Capital Ventures International have filed a lawsuit against Barclays, UBS and other banks alleging they breached their contracts with investors by manipulating the London Interbank Offered Rate.

    • 25 Nov 2013
  • SFIG Picks Up Investor Momentum

    The Structured Finance Industry Group is starting to ramp up its investor memberships, signing on 31 buy-side firms in recent months and more on the way, according to Richard Johns, executive director at the industry organization.

    • 25 Nov 2013
  • UBS Avoids Future LIBOR Fines

    UBS has signed an immunity agreement with the European Union that will shield the Swiss bank from future fines related to its alleged role in manipulating the London Interbank Offered Rate.

    • 25 Nov 2013
  • SAREB To Sell EUR440 Mln Of Realia Debt

    SAREB, Spain’s bad bank, is selling EUR400 million ($540 million) of residential property developer Realia to U.S.-based Fortress Investments and Azora Capital, the Spanish investment manager.

    • 25 Nov 2013
  • Italian Banks Need Another EUR44 Bln For Bad Loans

    Italian banks need another EUR44 billion ($59 billion) to cover bad loans, according to a Société Générale analyst.

    • 25 Nov 2013
  • More Details On ECB Supervision Sought

    Juergen Fitschen, co-ceo of Deutsche Bank, says banks in Europe need more details on how the European Central Bank plans to supervise financial institutions come 2014.

    • 25 Nov 2013
  • Ex-CS Structured Credit Head Sentenced For MBS Role

    A federal judge has sentenced Kareem Serageldin, the former global head of structured credit trading at Credit Suisse, to 2-1/2 years in prison for his role in allegedly falsifying the value of mortgage-backed securities in 2007, fined him $150,000 and ordered him to perform community service for two years following his sentence.

    • 25 Nov 2013
  • SG Offers EUR1 Bln French Covered Bond

    Société Générale has begun offering a EUR1 billion ($1.35 billion), seven-year covered bond in a deal led by Danske Bank, Mediobanca, Natixis, Nord/LB, the Royal Bank of Scotland.

    • 25 Nov 2013
  • Italian Banks Need Another EUR44 Bln For Bad Loans

    Italian banks need another EUR44 billion ($59 billion) to cover bad loans, according to a Société Générale analyst.

    • 25 Nov 2013
  • Q&A: Nino Fanlo, CFO, SoFi

    Social Finance (SoFi) is looking to sell its inaugural alumni-sourced student loan securitization the second week in December, with expectations to price 200 basis points over swaps, according to the company’s CFO, Nino Fanlo. Fanlo spoke with SI reporter Matt Scully and discussed plans for a second, larger securitization, ambitions to become a quarterly issuer, and how by next year, SoFi may be ready to expand borrowing options outside the student loan space.

    • 25 Nov 2013
  • Bluestone Makes Aussie Non-Conforming RMBS Comeback

    Australian mortgage provider Bluestone Group is looking to place nine tranches of bonds with investors this week, after announcing a securitization of non-conforming residential mortgages.

    • 25 Nov 2013
  • RCI Banque Targets Mid-Week Pricing For German Auto ABS

    Leads on RCI Banque’s German auto loan securitization will open books on Tuesday, with bankers on the deal confident that investor demand is still robust despite a steady run of issuance since October.

    • 25 Nov 2013
  • Bluestone makes Aussie non-conforming RMBS comeback

    Australian mortgage provider Bluestone Group is looking to place nine tranches of bonds with investors this week, after announcing a securitization of non-conforming residential mortgages.

    • 25 Nov 2013
  • RCI Banque targets mid-week pricing for German auto ABS

    Leads on RCI Banque’s German auto loan securitization will open books on Tuesday, with bankers on the deal confident that investor demand is still robust despite a steady run of issuance since October.

    • 25 Nov 2013
  • Kroll, Issuers Plan Non-QM Ratings, Other Agencies Unclear

    Kroll Bond Ratings Agency is set to release a methodology explaining how it would rate residential mortgage-backed securities collateralized by loans that fall outside the Qualified Mortgage rule. A pool of high quality non-QM loans could obtain a AAA rating from the firm, senior director Michelle Patterson told SI. The agency may release the methodology as soon as this week or next.

    • 25 Nov 2013
  • Crédit Agricole hires three in HY sales, trading, origination

    Crédit Agricole has hired three bankers, saying it is expanding its high yield bond franchise.

    • 25 Nov 2013
  • New Issue Euro, US CLOs See Seniors Widen

    Spreads in the senior tranches of European new-issue collateralized loan obligations remain wider than levels achieved earlier this year, as investors are focused on mezzanine and junior tranches, said bankers.

    • 25 Nov 2013
  • Scout24 to issue debt package for €1.5bn Hellman LBO

    Hellman & Friedman expects syndication of the debt backing its €1.5bn acquisition of a stake in the Scout24 holding group to close by year end.

    • 25 Nov 2013
  • Tank & Rast accelerates high yield bond, aims to price Tuesday

    German motorway services business Tank & Rast has accelerated the timing of its second lien high yield bond.

    • 25 Nov 2013
  • DFC Global pulls sterling, Canadian dollar HY bonds

    DFC Global, the US-listed payday lender, has postponed its $650m-equivalent high yield bond issue in sterling and Canadian dollars because of “current market conditions,” the company said in a statement.

    • 25 Nov 2013
  • Santander AM to raise $1.2bn, though some institutions stay out

    Santander Asset Management Finance expects to allocate its $1.2bn-equivalent LBO debt on Tuesday, after final orders from a few European investors come in on Monday.

    • 25 Nov 2013
  • Astaldi's €400m bond plans add to Italian high yield spree

    Astaldi, an Italian construction group, wants to issue €400m of seven year senior high yield bonds, amid a busy month for Italian high yield and investment grade corporate bond issuers.

    • 25 Nov 2013
  • CPA Global allocates €770m divi, refi deal oversubscribed

    CPA Global, the UK intellectual property services provider, allocated its new loan package on Friday, having changed the deal’s structure and pricing earlier last week.

    • 25 Nov 2013