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  • Owens-Illinois brings green HY issue

    Owens-Illinois brings green HY issue

    Ohio-based glass manufacturer Owens-Illinois (O-I) sold a euro-denominated green HY issue through BNP Paribas on Thursday, adding to the tiny clutch of leveraged credits to target deals at ESG-oriented investors — and locking in a storming result, with a size increase from €300m to €500m and pricing through the tight end of the initial range.

  • High yield stalwarts see benefit of issuer-friendly market

    Well-known issuers in high yield this week were best placed to benefit from strong market conditions, driven by central bank easing, the return of tourist money to the market, and receding worries of geopolitical crisis.

  • Bolloré to launch unsecured bond with Vivendi-sized loophole

    Bolloré to launch unsecured bond with Vivendi-sized loophole

    The holding company of the Bolloré billionaire family is planning to issue an unspecified amount of unsecured notes. Their largest investment, a 26% stake in media giant Vivendi, will be excluded from some of the covenants designed to protect the investors.

  • JP Morgan unveils bond terms for Casino rescue

    French supermarket group Casino started marketing work for the bond it is relying on to unlock a new revolving credit facility, terming out its debt maturity and relieving some financial pressure.

  • Euro bonds beckon to Chinese issuers

    Euro bonds beckon to Chinese issuers

    Chinese borrowers that have previously ignored the euro bond market should reconsider. Recent deals show there are plenty of reasons for issuers to tap the European investor base.

  • Distressed loan trading leaps forward as new tech tool slashes settlement time

    Distressed loan trading leaps forward as new tech tool slashes settlement time

    Distressed loans using US documentation are some of the slow trades to settle in the capital markets, with an average time of 67 days, reflecting onerous legal requirements under the Loan Syndication and Trading Association standard terms. A new tool released by IHS Markit as part of its ClearPar loan settlement platform has the potential to slash this delay, with a recent trade by Deutsche Bank taking just 10 days to settle.

  • Grifols seeks looser terms in $5.3bn refi launch

    Grifols seeks looser terms in $5.3bn refi launch

    Spanish pharmaceutical company Grifols is planning to take advantage of balmy market conditions with a refinancing package that will replace most of its outstanding debt. The package will consist of a $3bn term loan B in dollars, a $1.6bn TLB in euros and $1.25bn of senior secured bonds issued in euros.

  • Faurecia adds on €250m to finance SAS takeover

    Faurecia adds on €250m to finance SAS takeover

    French car parts supplier Faurecia dipped into the bond markets again as it prepares to take over full control of its joint venture with Continental. It is adding €250m of senior notes to the €500m of 2026 notes it issued in the spring.

LevFin News Archive

Comment

  • Euro bonds beckon to Chinese issuers

    Chinese borrowers that have previously ignored the euro bond market should reconsider. Recent deals show there are plenty of reasons for issuers to tap the European investor base.

Bookrunners of European Leveraged Loans

Rank Lead Manager Amount $b No of issues Share %
1 13.87 48 7.58%
2 12.72 79 6.95%
3 12.14 56 6.64%
4 9.80 48 5.36%
5 9.79 52 5.35%

Bookrunners of European HY Bonds

Rank Lead Manager Amount $b No of issues Share %
1 6.76 39 7.53%
2 6.62 51 7.38%
3 6.51 53 7.25%
4 5.88 39 6.55%
5 5.87 50 6.53%