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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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The seriously delinquent rate of single-family homes slipped to 3.57% in February from 3.59% a month earlier, while loan modifications fell slightly from January, according to Freddie Mac.
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Lloyds Banking Group launched and priced its Sandown Gold 2012-1 small-to-medium enterprise loan securitization on Tuesday.
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A banker close to Iceland Foods’ £885m leveraged loan said the Ba3/B+ corporate family rating assigned to the borrower was a “great result” as Wednesday’s commitment deadline approached. A number of funds have already committed to the £560m term loan ‘B’, in both the euro and sterling tranches.
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UK oil and gas firm EnQuest has signed a new multicurrency credit facility of up to $900m, with $525m committed and a further $375m made available to the borrower, to be used primarily for acquisitions. The revolver has a maturity of five years.
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Novozymes, a Danish biotech firm, signed a Dkr3bn ($537.95m) five year revolving credit facility on Monday.
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The volume of syndicated loans in EMEA in the first quarter of 2012 fell 57% from Q1 2011, with the lowest level of activity recorded in 18 years. Only 173 transactions were completed in the region over the first quarter, according to data provider Dealogic, although the average deal size was larger than in recent years, at $669m.