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Norton Rose Fulbright and Katten have added to their legal teams
Asset manager wants to offer more products to institutional investors
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.
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BNP Paribas will launch syndication tomorrow of a $150 million credit for CKE Restaurants, the parent of fast-food chains Hardee's and Carl's Jr., against the backdrop of a saturated quick-service restaurant (QSR) market and waning consumer demand. But Executive V.P. and CFO Ted Abajian said the company is betting on a premium quality, 1/4-1/2 pound, Angus beef hamburger at its lagging Hardee's chain to improve sales, rather than go the healthier route espoused by industry analysts.
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Smart & Final is in the midst of "retooling" its $175 million credit agreement after it was out of compliance with some covenants, said Jan Berger, v.p. and treasurer. He explained that after the company divested certain businesses, Smart & Final took write-downs in the second quarter, resulting in a net loss of $69 million, which tripped the breached covenants. Berger noted that the food and food supply warehouse store operator received a waiver on its asset-based credit through Oct. 5 so it can get new provisions in place. BNP Paribas leads the revolver and has been open to the credit agreement restructuring plans, Berger said. A BNP Paribas banker did not return calls.