Top section
Top section
Deal rules and slow primary market make ramping up deals difficult
◆ Supranationals and agencies prepare to achieve the previously unthinkable ◆ Leveraged loans versus private credit and their effect on CLOs ◆ A new dawn for dollar covered bonds and UK equity market structure
◆ Schaeffler attracts €5.8bn peak book… ◆ …while SPIE finds €2.8bn of orders ◆ Strong demand allows for strong price moves
More articles
More articles
More articles
-
Two coffee firms are marketing high yield bonds this week, as a strong market backdrop encourages sponsors to lock in cheap funding. The two issues sit at opposite ends of the coffee spectrum — service station self-serve and high end barista-style kit — but both companies are sponsor-owned single-B names. -
JP Morgan, Citi and Goldman Sachs kicked off the third quarter results season for investment banks on Tuesday. While debt and equity underwriting revenues grew substantially at JP Morgan compared with the equivalent quarter of last year, they fell at Goldman.
-
High yield issuer Kunming Municipal Urban Construction Investment & Development Co priced its inaugural dollar bond on Monday, raising $300m at a yield that was comparable to some higher rated local government financing vehicles (LGFVs).
-
Macquarie Capital has hired UBS banker Vincent Repaci to head a new asset-based lending group to cover sponsor clients, supporting LBOs, refinancings and restructurings. He joins three other recent senior hires in leveraged credit at the firm.
-
Covenant erosion and the lack of disclosure worried market participants at Afme’s Annual European High Yield Conference in London on Wednesday. While investors are ever better educated and organised, the hunt for yield is driving them to accept aggressive documentation.
-
S&P Global Ratings has downgraded Jain Irrigation Systems to selective default, following a similar move by two domestic rating agencies last week.
Sub-sections
shared comment list
