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Derivative-based investments structurers are crying foul over the competition presented by U.K. distributor Keydata's life-assurance based income product. Keydata's Secure Income Bond, a securitization of corporate life assurance policies, is promising 7.5% income per annum plus capital protection.
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The deal for J. Crew Group was pulled from the market Wednesday following the company's decision to delay its initial public offering until next year.
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--Norman Reamer, president and ceo at Asset Management Finance, on the completion of a $100 million revolver for its Revenue Shares Interests vehicle.
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Distressed debt investors were buying the bank debt of LaPaloma Generating Project amidst speculation that a strategic buyer was behind the trades.
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A market order that protects the trading of securities of bankrupt companies is taking shape and should be finalized within the next few weeks.
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This chart, provided by Citigroup Global Markets, tracks bid-ask prices for par credit facilities that trade in the secondary market.
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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. -
Some investors last week were calling for a price increase on the $450 million credit for Accellent, but at press time Friday the deal was reportedly selling at its LIBOR plus 2 1/4% level.
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F+W Publications' bank debt is bouncing around as investors await a second call with investors, expected sometime this month, to discuss IT problems that have tripped up the company.
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Debt market specialists gave a cautious welcome this week to Telefónica's £17.7bn bid for O2, the UK mobile phone company. More than any other recent acquisition, it has the potential to mark a turning-point in the credit cycle, in which the corporate sector will releverage.
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Debt market specialists gave a cautious welcome this week to Telefónica's £17.7bn bid for O2, the UK mobile phone company. More than any other recent acquisition, it has the potential to mark a turning-point in the credit cycle, in which the corporate sector will releverage.
