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BWICs spike and spreads widen but market remains constructive
Resets and refis prominent in pipeline as loan market softens, offering respite from repricing wave
Dasha Sobornova joins from Akin Gump with experience across asset classes
Trade body for levfin investors turns to leading rating analyst
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Leveraged finance bankers working on bids for Polish cable operator Multimedia Polska said they were disappointed, but not surprised that the sale of the company was pulled after bids did not meet the vendor’s expectations.
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Christmas, Halloween, the return of Strictly Come Dancing: these are the only things the loan market has to look forward to over the final quarter of the year, as it seems there are few expectations for dealflow to increase over the next three months.
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The bookrunners on the £405m of loans backing KKR’s acquisition of the majority of oil and gas services group Acteon will hold a bank meeting in London next week to launch the deal.
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Aggressive-looking leveraged loan deals for BSN Medical and RAC looked set for success this week as the lack of loan paper weighs on investors. But although bankers expect more companies to try repricings and dividend recaps, they do not see a wave of similar deals coming to market simply because there are not enough credits that are willing and able to carry out such transactions.
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WESTERN EUROPE Vitol extends three year, refis one year loan
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JPMorgan maintained its lead over global asset-backed securities bookrunners for the second quarter in a row, though its share of the market decreased by more than four points as other banks ramped up their activity, primarily in the U.S. market, according to league tables prvided to SI by Dealogic.