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LevFin CLOs

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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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  • Books are out for Waterland’s sale of its Dutch trust and corporate services group Intertrust, with banks in its seven-strong existing lending group likely to be in the running to arrange a new LBO.
  • Around twenty Taiwanese banks are considering committing to Citic Resources Holdings’ latest dollar loan, after the borrower offered a juicier return than a recent deal from one of its mainland rivals.
  • A second reverse flex in a week on German safety technology company Bartec’s term loan ‘B’ is no reason for the European leveraged loan market to get carried away with itself, according to loan bankers.
  • Turkish conglomerate Dogus Holding has signed a $254m-equivalent oversubscribed three year loan from seven banks.
  • Qatar Telecom (QTel) has used existing funds to repay the $3bn syndicated term loan it signed in August 2007.
  • The top-rated tranche of a new $413.2 million collateralized loan obligation from Columbia Management sold at a spread that is tighter than any non-static, new-issue CLO seen since late June.