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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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Never one to let the fast pace of the City get in the way of in-depth understanding of the market, Loan Ranger took some time out on Wednesday to enjoy a leisurely lunch with RBS’s Simon Meldrum. We say leisurely, perhaps marathon is the word, given the relaxed attitude to service at our choice of restaurant — 1 Lombard Street.
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Babson Capital Management has priced its $350 million collateralized debt obligation, Babson CLO 2012-I, with the $233.5 million in top-rated liabilities going for LIBOR plus 143 basis points.
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The £560m term loan ‘B’ of the £885m all-senior loan financing that is backing founder and chief executive Malcolm Walker’s buy-out of UK food retailer Iceland is being talked at an original issue discount of around 98, after a bank meeting on Wednesday morning.
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African trade finance lender Afreximbank has launched a dual currency refinancing facility worth $300m into general syndication. Initial mandated lead arrangers (IMLAs) are due to sign by the end of the month.
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UK newspaper group Trinity Mirror has signed a new bank facility of £110m, thanks in part to an agreement with the trustees of the firm’s pension scheme to reduce deficit funding payments until 2014 to £10m per year. From 2015, annual payments will return to the normal level of £33m.
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Turkish participation bank Turkiye Finans is planning a one-year Islamic loan to support the financing needs of its small and medium size enterprise (SME) clients.