Structured Bonds - All Articles

  • Emma Delta’s ‘aggressive’ €400m OPAP bond nears London close

    Jefferies will close books at 5pm London time today for the €400m unrated high yield bond issue that finances the privatisation of 33% of OPAP, the Greek state lottery and football betting operator.

    • 30 Sep 2013
  • LBO financing proves duck soup to Campbell Europe ahead of allocation

    Campbell Europe, the continental division of the soup company, expects to allocate €320m of senior loans on Monday or Tuesday, after investors committed to the deal en masse and signed off on final documentation last week.

    • 30 Sep 2013
  • Vion Ingredients winner may emerge this week

    First round bids are due in today for the sale of Vion Ingredients, a business being sold by meat producer Vion Foods of the Netherlands.

    • 30 Sep 2013
  • Douglas loans get pricing makeover

    Douglas Holding, the German beauty products retailer, is set to complete the repricing of two loans after receiving sufficient consent from its existing group of investors last week.

    • 30 Sep 2013
  • Bookrunners of European HY bonds, 27 September 2013

    Bookrunners of European HY bonds, 27 September 2013

    • 27 Sep 2013
  • Bookrunners of West European HY corporate bonds, 25 September 2013

    Source: Dealogic

    • 27 Sep 2013
  • Euro cov-lites return as Dell blowout sets new standard

    Dell’s €700m landmark paves the way for further covenant-lite leveraged loans in Europe, bankers and investors agreed this week. Part of the US computer maker’s jumbo LBO financing, the oversubscribed and increased deal defied the scepticism that has long surrounded the product in Europe — especially since publisher Springer Science+Business Media had to offer a discount of 96.5 on an ambitious €615m offering in July.

    • 26 Sep 2013
  • Medical Properties sells euro’s first Reit HY

    After last week’s mortgage lender Jerrold, this week has brought another new sector to the European high yield market with Medical Properties Trust, a US real estate investment trust. The self-advised Reit sold its bond in line with 5.75% area yield guidance.

    • 26 Sep 2013
  • SNF Floerger sells first dollar HY to repay loans

    SNF Floerger, the French speciality chemicals company, sold its first dollar bonds with a $250m long eight year issue on Wednesday.

    • 26 Sep 2013
  • Businessmen seek €400m HY bond to buy Greek lottery OPAP

    Emma Delta, an investment fund controlled by a Czech billionaire and a Greek shipowner, wants to issue €400m of first and second lien unrated high yield bonds to part-finance its takeover of a 33% stake in OPAP, the Greek lottery and football betting company. The deal is Greece’s biggest privatisation this year.

    • 26 Sep 2013
  • Dual personality Russian consumer ABS opens up domestic mart

    A new Rb10bn (€230m) Russian consumer loan-backed securitization that melds international and Russian securitization features is due to be sold to an unprecedented number of domestic buyers towards the end of October. Securitization specialists on the deal reckoned the innovative template could be applied more widely, not only in Russia but other emerging market countries too.

    • 26 Sep 2013
  • Rare Swedish non-conf RMBS deal to offer euro tranche

    Lead managers Barclays and Natixis will add a euro denominated tranche to Bluestep AB’s Swedish non-conforming residential mortgage securitization following initial investor meetings on the novel transaction.

    • 26 Sep 2013
  • Blackstone lures Deutsche Wohnen fans to €107m block

    Blackstone sold a €107m stake in German real estate fund Deutsche Wohnen on Monday night, finding quick and strong demand from the stock's supporters after a busy year so far for the sector.

    • 26 Sep 2013
  • Greece sells prized assets to please Troika

    The Greek government announced in 2010 plans to raise €50bn from privatisations by 2016. This ambitious goal was lowered to €19bn, before being cut to €15bn.

    • 26 Sep 2013
  • GMAC unveils guidance on E-Carat auto deal

    GMAC UK has issued price guidance on E-Carat 2, its UK auto loan securitization due to be priced on Friday.

    • 26 Sep 2013
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, September 26, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 26 Sep 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, September 25, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 26 Sep 2013
  • International bonds league tables

    Dealogic league tables of bond transactions, September 25, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 26 Sep 2013
  • All Asian league tables by sector

    Dealogic league tables of Asian transactions, dated September 26, 2013. Including Bonds, ECM, Syndicated Loans, Mergers & Acquisitions.

    • 26 Sep 2013
  • Strong autumn could crown high yield’s record deal year

    High yield bankers in Europe expect a bumper couple of months of deals, as investors are demanding more paper and net inflows into high yield funds are building strongly.

    • 26 Sep 2013
  • Abengoa finds real money investors with €250m tap

    Abengoa, the Spanish construction and industrial conglomerate, priced a €250m tap of its 8.875% 2018 notes at the tight end of guidance on Tuesday. The deal was supported by real money investors, allowing Abengoa to broaden its funding base.

    • 26 Sep 2013
  • Oberthur prices refi debt, awaits commitments

    France’s smart card developer Oberthur has fixed guidance on €440m equivalent of covenant-lite loans after discussions with potential lenders at a bank meeting in London on Wednesday.

    • 26 Sep 2013
  • SNF Floerger sells first high yield bond in dollars

    SNF Floerger, the French speciality chemicals company, sold its first dollar bonds with a $250m long eight year issue on Wednesday.

    • 26 Sep 2013
  • Card Factory tightens pricing, adds OID

    Card Factory, the UK gift card retailer, has priced its new £165m term loan ‘C’ at the tight end of guidance ahead of the deadline for final commitments on Monday.

    • 26 Sep 2013
  • MPT to price first European REIT high yield bond today

    After last week’s mortgage lender Jerrold, this week has brought another new sector to the European high yield market with Medical Properties Trust, a US real estate investment trust.

    • 26 Sep 2013
  • Britax turns to US for loan refi

    The UK’s children car seat manufacturer Britax Childcare has launched a $424m equivalent loan package to refinance existing debt taken out at the time of its leveraged buy-out by private equity firm Nordic Capital.

    • 26 Sep 2013
  • Dell deal done, European investors pile into euro tranche

    Dell, the US computer maker, allocated the €700m tranche of its LBO financing early on Wednesday, after European investors overwhelming supported one of the largest covenant-lite deals ever to be issued in the currency. Most of the commitments to the loan came from lenders in Europe, investors and bankers involved in the deal told EuroWeek on Wednesday.

    • 25 Sep 2013
  • Skrill investors to commit to unchanged debt

    Investor commitments to Skrill’s €305m loan package are due in on Wednesday afternoon, with allocations expected next week. The terms and size of the UK online payment company’s debt remain unchanged from when it was first marketed at a bank meeting on 12 September.

    • 25 Sep 2013
  • Abengoa taps 2018s with real money support

    Spanish construction and industrial conglomerate Abengoa priced the tap of its 8.875% 2018 notes at the tight end of guidance on Tuesday.

    • 25 Sep 2013
  • Emma Delta gambles with €400m bond for OPAP sale

    Emma Delta, an investment fund controlled by a Czech businessman and a Greek, wants to issue €400m of first and second lien unrated high yield bonds to part-finance its takeover of a 33% stake in OPAP, the Greek lottery and football betting company.

    • 25 Sep 2013
  • Levloan investors fête Dell, eclipsing high yield market

    The leveraged loan market flexed its muscles this week as investors scrambled for US computer maker Dell’s covenant-lite loans. Not only did levloan investors out-compete bond investors, so that a bond tranche was replaced with a loan, but the demand showed just how eager European investors can be for cov-lite paper, although some of the interest will have come from the US.

    • 25 Sep 2013
  • Thyssenkrupp's lenders agree covenant waiver

    Lenders to Thyssenkrupp have agreed to waive the September covenant test on its €2.5bn revolving credit line after the German steel firm revealed that it ran the risk of breaching its debt to equity requirements.

    • 24 Sep 2013
  • Dell cov-lite euro loan grows ahead of allocation

    US computer maker Dell has increased the loan portion of its buyout financing, with the euro term loan ‘E’ expected to grow to at least €650m ahead of its Tuesday allocation. The facility will become one of the largest covenant-lite loans ever to be issued in euros.

    • 24 Sep 2013
  • Tunstall looks to rock sterling loan market

    The UK’s Tunstall Healthcare is refinancing all its outstanding loans and mezzanine facilities with new drawn and undrawn loans totalling £350m. The debt will be marketed at a bank meeting on Thursday.

    • 24 Sep 2013
  • An Oberthur overture: French firm launches loan refi

    Oberthur has launched €440m-equivalent of transatlantic, covenant-lite loans, to refinance drawn credit facilities issued by the French smart card developer for its buy-out in 2011.

    • 24 Sep 2013
  • HY pipeline builds as bankers expect deal bonanza

    With investors demanding more paper and net inflows building strongly, high yield bankers expect a bumper couple of months for the market, with deals from a wide range of sectors and jurisdictions using a host of different structures likely to be snapped up. European high yield’s 2013 year to date issuance of €68bn equivalent has eclipsed 2012’s full year record of €58.6bn and more deals are on their way.

    • 24 Sep 2013
  • Russian loan syndications have been clubbed into submission

    It is rare that a successful deal can be seen as a symptom of a dire problem in the loan market. But that’s just what Russia’s Norilsk Nickel’s $2.35bn syndicated loan was — a great deal that should send a shiver down the spines of emerging markets syndicated loans bankers.

    • 23 Sep 2013
  • Medical Properties Trust looks for €200m high yield bond

    Medical Properties Trust, a US self-advised real estate investment trust, wants to sell a €200m seven year high yield bond.

    • 23 Sep 2013
  • Lafarge cements strong book for €750m bond

    French cement maker Lafarge attracted a €4.6bn book from 460 accounts for its €750m bond sold on Friday. The investment grade-style deal for the Ba1/BB+ rated company came with a 4.75% coupon to yield 4.828%.

    • 23 Sep 2013
  • Dell’s euro debt awaits commitments

    Dell, the US computer maker, expects to receive final commitments to its $6.175bn-equivalent covenant-lite loans on Monday. The debt, which includes a chunky euro tranche, will back the company’s buy-out by founder and CEO Michael Dell and private equity firm Silver Lake Partners.

    • 23 Sep 2013
  • Abengoa to tap 8.875% 2018 high yield bond

    Abengoa, the Spanish construction and industrial conglomerate, has announced a two day roadshow to market a tap of its 8.875% 2018 senior notes, rated B2/B.

    • 23 Sep 2013
  • Jerrold’s £200m mortgage-backed HY bond trades strongly

    Jerrold, the UK specialised mortgage lender, brought a new sector to the European high yield market with its debut bond on Friday — a week that saw some €2bn equivalent of high yield bonds sold.

    • 23 Sep 2013
  • Seadrill sells $500m bonds for acquisitions, refinancings

    Seadrill, the Norwegian offshore drilling contractor, sold a $500m unsecured 2020 bond on Friday. The notes, led by Deutsche Bank, came with a 6.125% coupon.

    • 23 Sep 2013
  • Hapag-Lloyd ships €250m into refi harbour

    Hapag-Lloyd, the German container shipping company, raised €250m in an unsecured bond issue on Friday — €50m more than initially planned — on a strong book.

    • 23 Sep 2013
  • Loyal investors back Phones4u’s punchy PIK

    Phones4u, the UK mobile phone retailer, priced its £205m PIK toggle bond on Wednesday, after a swift marketing process that began with a roadshow in London on Monday and Tuesday.

    • 19 Sep 2013
  • LatAm HY picks up pace before Fed lift

    Latin American debt markets proved that they were on the path to recovery even before the surprise lift provided by the US Federal Open Market Committee on Wednesday. Four sub-investment grade names from the region sold a total of $2.85bn of bonds on Friday September 13, completing the biggest week in LatAm high yield since February 2011.

    • 19 Sep 2013
  • SAS flies back into favour with Skr1.5bn high yield hit

    Scandinavian Airlines, the Swedish airline, made a comeback to bond markets on Thursday that won an enthusiastic reception from investors, impressing even bankers close to the deal.

    • 19 Sep 2013
  • Asian high yield springs back to life after months of silence

    Asian high yield bonds made a stunning comeback this week when two blowout deals put the sector back in vogue after being widely shunned by investors since global bond markets fell into a funk in June, writes Frances Yoon. But even though the US Federal Reserve dealt a positive shock to markets on Wednesday by keeping the quantitative easing taps open, bankers are all singing the same tune — junk bonds won’t be for everybody, and investors still have their limits.

    • 19 Sep 2013
  • Soho House seeks £105m debut bond in US, Europe

    Soho House, the London-based chain of private members' clubs, has finished a four day roadshow in the US and Europe for its debut high yield bond.

    • 19 Sep 2013
  • Jerrold £200m brings mortgage lending risk to HY market

    Jerrold, the UK specialised mortgage lender, will offer European high yield investors an unfamiliar kind of credit risk. Founded in 1974, it makes specialised retail and commercial mortgages in niche market segments including wealthy individuals.

    • 19 Sep 2013
  • SAS flies back into favour with Skr1.5bn high yield hit

    Scandinavian Airlines, the Swedish airline, made a comeback to bond markets today that won an enthusiastic reception from investors, impressing even bankers close to the deal.

    • 19 Sep 2013
  • All Revenue league tables

    Dealogic league tables of total revenue transactions, September 19, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.

    • 19 Sep 2013
  • International bonds league tables

    Dealogic league tables of bond transactions, September 18, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 19 Sep 2013
  • All Bonds league tables

    Dealogic league tables of bond transactions, September 18, 2013. Includes SSAs, FIG, investment grade and high-yield corporates, emerging markets and ABS.

    • 19 Sep 2013
  • All Asian league tables by sector

    Dealogic league tables of Asian transactions, dated September 19, 2013. Including Bonds, ECM, Syndicated Loans, Mergers & Acquisitions.

    • 19 Sep 2013
  • Campbell Europe reverse flex a 'blowout'

    Campbell Europe, the continental division of the soup firm that is being taken over by CVC, has reverse flexed the pricing on its €190m term loan ‘B’, with bankers close to the deal saying that investors’ response to the pricing change had been a "blowout".

    • 19 Sep 2013
  • Chesapeake closes oversubscribed

    Chesapeake’s £340m-equivalent leveraged buyout loans have now been closed after the deal was well oversubscribed in syndication.

    • 19 Sep 2013
  • Willkie Farr & Gallagher reacts to London restructuring shift

    A structural shift, in which private funds and hedge funds moved to London, has prompted US law firm Willkie Farr & Gallagher to open a restructuring practice in London.

    • 18 Sep 2013
  • Jerrold, Soho House lead thin HY calendar, LBOs to come

    After last week’s spate of European high yield bond issues, when some €2.9bn was priced, this week is a lot lighter. By Wednesday, Phones4u, Jerrold and Soho House were the only European issuers looking for bond funding.

    • 18 Sep 2013
  • Phones4u gets PIK toggle done swiftly at 10.25%

    Phones4u, the UK mobile phone retailer, has priced its £205m PIK toggle bond, after a swift marketing process that began with a roadshow in London on Monday and Tuesday.

    • 18 Sep 2013
  • Leveraged loan liquidity unlikely to dry up

    Pricing on the €355m dividend recapitalisation deal for TV operator M7 Group has been reverse flexed, as issuers revel in a leveraged loan market awash with liquidity but deprived of new deals.

    • 18 Sep 2013
  • Enel rewarded for taking hybrid plunge before FOMC

    This afternoon’s expected announcement on QE tapering from the Federal Open Market Committee has paralysed most corporate bond issuers. Will there be a whopping rally, a nasty sell-off or a non-event?

    • 18 Sep 2013
  • Faurecia receives EBRD loan for EM capex

    Faurecia, a French car components supplier, has received a €122.5bn loan from the European Bank for Reconstruction and Development (EBRD) to support its capex programme in emerging markets.

    • 17 Sep 2013
  • Chesapeake covered as deadline looms

    Commitments for the £340m-equivalent loans supporting the buyout of UK packaging firm Chesapeake by private equity firm Carlyle are due in on Tuesday.

    • 17 Sep 2013
  • Soho House seeks members for refi bond

    Soho House, the London-based chain of private members' clubs, has finished a four day roadshow in the US and Europe for its debut high yield bond.

    • 17 Sep 2013
  • Bidding finally over! Dell brings $3.25bn bonds for buyout

    Now that the fight over the buyout of US computer maker Dell is over, bond investors can finally get their teeth into the company's new capital structure and the announced new high yield bonds.

    • 17 Sep 2013
  • LatAm waits for FOMC as new deals trade up

    A solid secondary market performance on Monday from the Latin American bonds that priced on Friday reaffirmed the confidence of bond bankers that the high yield market was once again open. However this Wednesday’s US Federal Open Market Committee meetings are likely to delay new deal announcements from other sub-investment grade companies from the region.

    • 17 Sep 2013
  • Lyxor raises €225m for senior loans fund

    Lyxor Asset Management has raised €225m from insurance firms for its new fund investing in senior secured loans.

    • 16 Sep 2013
  • Latam HY picks up pace: Office Depot, Grupo R, Marfrig and JBS print

    The LatAm bond market’s easy absorption of four new high yield deals on Friday has given confidence to DCM bankers, although modest order books and mixed pricing results acted as a reminder that investors remain selective.

    • 16 Sep 2013
  • UK lender Jerrold looks for £200m refi bond

    Jerrold, a specialist UK mortgage lender, wants to raise £200m with its first high yield bond issue.

    • 16 Sep 2013
  • Phones4u joins high yield PIK bond issuers as it gears up

    UK mobile phone retailer Phones4u is joining the stream of firms issuing high yield payment-in-kind bonds from their holding companies. The bond finances a £220m payment to shareholders.

    • 16 Sep 2013
  • From Lehman to Verizon: corporate debt casts off the past

    Five years ago this week, Lehman Brothers fell. The hubris of an investment banking industry that saw itself as master of the universe met a tragic reckoning.

    • 13 Sep 2013
  • Fiat prices inside Peugeot but with more NIP on €400m tap

    Fiat joined the spate of deals this week by Europe’s high yield-rated carmakers with a €400m tap of the €850m bond it had issued exactly two months earlier.

    • 12 Sep 2013
  • Study Group passes bond entry test with flying colours

    Study Group UK, the company that provides courses for overseas students preparing to study at UK and Australian universities, succeeded in pricing its £205m debut bond on Thursday at the tight end of guidance.

    • 12 Sep 2013
  • Leveraged loans – news in brief

    Lenders back Numéricable – Alloheim sets details – CliniSys club deal – Skrill meeting – AHT early bird

    • 12 Sep 2013
  • Sharp rise in LBO defaults in France, Netherlands as banks reject A&Es

    Bank lenders have been more wary about committing to amend and extend transactions in France and the Netherlands over the past 12 months, according to a new study published by Standard & Poor’s, causing LBO default rates to rise sharply in the regions.

    • 12 Sep 2013
  • Shuanghui serves up $4bn loan to general

    Chinese pork producer Shuanghui International has launched its $4bn acquisition financing into general syndication, offering four participation levels to lenders. Bankers hope that the success of the deal in the senior phase will follow through into the general market.

    • 12 Sep 2013
  • In Focus: $500m dividend recap follows LBO

    China’s Focus Media is in the market again for a $500m financing, just six months after it signed a leveraged buyout loan of $1.525bn.

    • 12 Sep 2013
  • Lloyds adds to syndicate with new hire

    Lloyds is beefing up its bond syndicate team by hiring a new head of financials and corporates, after recently appointing former high yield banker Andrew Ryan as overall head of syndicate in May.

    • 12 Sep 2013
  • Four take on $250m LBO funding for Hexaware

    Four banks are underwriting a loan of between $200m and $250m to finance Baring Private Equity Asia’s leveraged acquisition of a stake in Indian company Hexaware Technologies.

    • 12 Sep 2013
  • Three firms go from auction to divi recap

    Three private equity-owned companies this week announced plans to tap into the leveraged loans market after their auction plans were aborted earlier in the summer.

    • 12 Sep 2013
  • Renault follows Peugeot for €600m at half its spread

    Renault, the French carmaker, sold a €600m five year bond on Wednesday that in many ways echoed the €600m 5.3 year issue launched by its rival Peugeot-Citroën on Tuesday.

    • 12 Sep 2013
  • TVN pays premium for flexible toggle option

    Polish television company TVN completed the refinancing of its 2017 bonds on Wednesday afternoon, pricing a €300m seven year non-call three deal at 11%.

    • 12 Sep 2013
  • Downgraded Peugeot slashes NIP, still gets €3.25bn book

    Peugeot, the French car maker, returned to the euro bond market on Tuesday after a six month absence and priced a successful issue, raising the €600m it wanted at a substantially tighter yield than its last issue.

    • 12 Sep 2013
  • Popular Conti raises €750m more after last week’s deal sags

    Continental surprised many in Europe’s corporate bond market this week by issuing again, only a week after a €750m deal that had traded badly in the secondary market.

    • 12 Sep 2013
  • Study Group passes bond entry test with flying colours

    Study Group UK, the company that provides courses for overseas students preparing to study at UK and Australian universities, succeeded in pricing its £205m debut bond today at the tight end of guidance, as had been expected yesterday.

    • 12 Sep 2013
  • Scandlines looks to sail through debt refi

    German-Danish ferry operator Scandlines is planning to refinance all its drawn debt. The transaction, which will consist of around €1bn of loans, comes after an aborted sale of the company earlier this year.

    • 12 Sep 2013
  • Existing investors expected to back new Aenova loans

    Aenova intends to market its new €160m loan package exclusively to its existing investor base, with the German healthcare group expecting support from its lenders to be sufficient to avoid a general syndication phase.

    • 12 Sep 2013
  • thetrainline completes thedividendrecap

    UK ticketing company thetrainline.com has issued £190m of loans to finance a dividend recapitalisation for its owner Exponent Private Equity.

    • 12 Sep 2013
  • TVN pays premium for flexible toggle option

    Poland’s TVN completed the refinancing of its 2017 bonds on Wednesday afternoon, pricing a €300m three year non-call seven bond at 11%. The payment-in-kind toggle note was well oversubscribed and offered investors a premium to compensate for a more flexible toggle structure, said bankers on the deal.

    • 12 Sep 2013
  • Study Group bond flies, set to price early at 8.875%

    Study Group UK, the company that provides courses for overseas students preparing to study at UK and Australian universities, is set to price its £205m debut bond issue a day early.

    • 11 Sep 2013
  • Renault follows Peugeot with €600m, at half the spread

    Renault, the French carmaker, sold a €600m five year bond today that in many ways echoed the €600m 5.3 year issue launched by its rival Peugeot-Citroën on Tuesday.

    • 11 Sep 2013
  • Skrill looks to thrill investors at bank meeting

    UK online payment company Skrill will present its latest €305m loan package at a bank meeting in London on Thursday. The issuer waited for the end of the summer break to launch the deal, which was not presented to investors in an early-bird phase.

    • 11 Sep 2013
  • Card Factory to send owner generous gift card

    Card Factory, the UK gift card retailer, will meet investors on Thursday to market a new term loan add-on that will be used to pay a dividend to its private equity owner Charterhouse.

    • 11 Sep 2013
  • AHT Cooling to market TLA and TLB in early-bird

    AHT Cooling is set to launch €288m of all-senior drawn debt through term loan ‘A’ and term loan ‘B’ facilities. The debt will be marketed to a select number of investors in an early-bird phase, according to the deal's leads.

    • 11 Sep 2013
  • Poland's TVN rounds off refinancing with PIK toggle

    Polish broadcaster TVN is aiming to close books early on Wednesday afternoon on a €300m no-grow bond to help pay off the last chunk of its outstanding 2017 paper.

    • 11 Sep 2013
  • Four take on $250m Hexaware LBO financing

    Four banks are underwriting a loan of between $200m and $250m to finance Baring Private Equity Asia’s leveraged acquisition of a stake in Indian company Hexaware Technologies.

    • 11 Sep 2013
  • Downgraded Peugeot slashes NIP, still gets €3.25bn book

    Peugeot, the French car maker, returned to the euro bond market today after a six month absence and priced a successful issue, raising the €600m it wanted at a substantially tighter yield than its last issue.

    • 10 Sep 2013
  • Poland's TVN nears PIK toggle at low 11% tomorrow

    Polish broadcaster TVN is taking orders for the second part of its second attempt to refinance its outstanding 2017 bonds.

    • 10 Sep 2013
  • Sharp rise in LBO defaults in France, Netherlands

    Default rates for French and Dutch LBO issuers have risen sharply over the past twelve months, according to a new study published by Standard & Poor’s, making lenders more wary about committing to amend and extend transactions in the regions.

    • 10 Sep 2013