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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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Intermediate Capital Group priced its Lloyds Bank-arranged European collateralised loan obligation, the €400m St Paul’s CLO II, on Monday morning. The portfolio was more than two-thirds ramped up at closing, partly because the transaction was seeded by a previous ICG CLO that is due to be called by the manager. -
Findus, the fish and frozen food company, sold its £414m debut bond on Friday to refinance all its loans. The deal was the last in an active week for new issuance in the European high yield market.
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Expro, the UK oil and gas well services provider, has raised $100m of additional 8.5% 2016 notes. The tap was priced at the tight end of guidance at 104.5 to yield 6.9897%.
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Robert Lepone, BNP Paribas’s head of distressed and leveraged credit trading, Europe, has left the bank. The decision was by mutual agreement, a market source said. Lepone is not thought to be moving immediately to another role elsewhere.
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Banca Popolare di Vicenza has sold nearly €1bn of bonds to investors from its securitization of loans to Italian small-to-medium enterprises, Berica PMI.
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European leveraged loans are being flexed and facing delays owing to the wealth of issuance in the market as banks reprice deals to get them off their books ahead of August.
