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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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A buoyant high yield market and lenders' willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody's. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.
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German hydraulic clutch maker FTE Automotive is the first issuer hoping to break the chills in the European high yield market and issue the first bond of the second quarter. The company plans to use the proceeds to finance its takeover by Bain Capital.
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The search for a solution to the troubled Opera Finance (CMH) CMBS took another step towards noteholder stalemate after Kennedy Wilson and Värde Partners, whose joint cash bid for the portfolio was rejected by junior classes last week, bought 25% of the class ‘B’ notes, putting them in a position to reject noteholder votes for other proposals.
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The European high yield market has experienced a first half like no other in 2013, with record issuance and super-tight coupons followed by volatility and a secondary market sell-off. But where will the market go from here?
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The UK’s largest car breakdown assistance company, the Automobile Association, overcame turbulent market conditions this week to price the first investment grade and high yield bonds from a new whole business securitization platform.
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Brussels Airport took advantage of a more stable day in European credit markets on Tuesday to launch its debut bond. Although the deal probably cost it more than it would have before the latest bout of volatility, the bond was well placed.