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Whole business securitization called 'a coup' but doesn't reach $700m target
Fluvius, Kojamo and Affinity Water hold investor calls
Sandwich chain joins host of ABS issuers
There is no crock of equity gold at the end of the rainbow
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Minimax Viking has entered the documentation phase of its new transatlantic debt issuance, after receiving sufficient commitments on Tuesday (August 6). The leads expect to confirm the margins and allocate the loan by Thursday.
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Schenck Process completed on Monday (August 5) an amendment and extension of its outstanding debt. Under the terms of the A&E the company has extended most of its financing by two and a half years. It has also increased the size of the debt.
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BMC Software, the US business software group, dropped the planned euro tranche to its $1.38bn-equivalent high yield bond and plans to price the dollars on Wednesday. Pricing on the euro tranche would have been too expensive, according to a banker close to the deal.
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A methodology announcement by Moody’s last week highlights the paradoxical nature of the burgeoning corporate hybrid capital market, and its potential fragility. The agency’s stance could increase the risk of a company falling off a ratings cliff, just at the moment when it loses investment grade ratings. -
The limited pool of buyers for the senior portions of European collateralised loan obligations is looking to push spreads on the triple-A bonds of upcoming deals wider, according to CLO officials on the frontline in London.
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The Debussy CMBS from Toys R Us showed that bank arrangers are not irreplaceable. Investors are taking a more hands-on role in structuring. This should be welcomed if it gives them the confidence to buy riskier deals.
