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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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  • Jerrold, a specialist UK mortgage lender, wants to raise £200m with its first high yield bond issue.
  • Ghana National Cocoa Board (Cocobod) will sign its oversubscribed $1.2bn one year pre-export finance (PXF) facility on Friday.
  • Host Europe has drawn down on the acquisition facility issued earlier this month to finance its takeover of Telefónica Germany Online Services, a subsidiary of Telefónica Deutschland.
  • Russian metal and mining firm Norilsk Nickel is due to sign the general syndication stage of its $2.1bn loan imminently. Only two banks have joined the deal during general, after a highly successful senior stage.
  • UK mobile phone retailer Phones4u is joining the stream of firms issuing high yield payment-in-kind bonds from their holding companies. The bond finances a £220m payment to shareholders.
  • FIG
    Turkey's Isbank has pushed through its refinancing target to sign a $1.26bn loan. The success of the deal will ratchet up concerns among loans bankers that margins for Turkish bank deals could drop lower before the end of the year.