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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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  • FIG
    Turkey’s Akbank will today close a one year loan at a 135bp all-in margin, suggesting that a new pricing benchmark for Turkey’s top tier bank borrowers has been firmly set.
  • FIG
    Russia’s Promsvyazbank has sent out a request for proposals (RFP) to refinance its $350m loan from October 20 2011.
  • Columbia Management is said to be marketing a $408 million collateralized loan obligation, CENT CLO 16, following a handful of CLOs that recently priced and ahead of a batch expected just after Labor Day.
  • The Loan Market Association (LMA) has hired its former board member Nigel Houghton from GE Capital as a director in its executive team.
  • Dutch telecom operator KPN has cancelled the sale of its Belgian mobile unit, BASE, blaming unsatisfactory bids for the company on difficult financial market conditions.
  • Turkish energy group Zorlu Enerji and its Israeli partner Eldetech have signed a long term loan for around NIS880m ($219m) to finance 80% of two power plant projects in Israel.