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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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Class ‘C’ and ‘D’ noteholders have rejected a proposal to change the payment waterfall of the troubled Opera Finance (CMH) CMBS, scuppering Kennedy Wilson’s buy-out of the Irish portfolio backing the deal. Rather than leading to a quick enforcement, however, the failed vote opens the door to Northwood Investors’ last ditch restructuring proposal.
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Vue Entertainment, the UK cinema chain, could start premarketing for its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corporation as early as next week.
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The worst of the high yield market sell-off might be over in Europe, suggested market participants at the Euromoney Global Borrowers' and Investors' Forum in London today. This comes on a day when the Markit iTraxx Crossover tightened for the second day in a row — in what could indicate a market stabilisation.
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Formal guidance for Volkswagen Bank’s Driver 11 German auto loan securitization has been set wider than initial price thoughts in the class ‘A’ and ‘B’ tranches to take account of continued weakness in the secondary market.
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The lurching volatility in rates, equities and credit spreads as markets get used to the idea that US quantitative easing will have to be withdrawn are making life difficult for corporate bond issuers of all stripes.
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Pricing for the Automobile Association’s debut issue of bonds backed by its entire business started at generous spreads for both the senior and high yield portions, but sterling investors demanded even more to get involved in the senior 12 year tranche.