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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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  • A Caa1/B- rated bond for Playa Resorts Holding, a highly leveraged Mexican and Caribbean hotel play that was being run off the lead banks’ US high yield desks, surprised LatAm DCM bankers and EM debt investors by pricing at a yield of 8% on Monday
  • The UK's largest spread betting firm IG Group has signed a £200m revolving credit facility.
  • Taiwanese technology service provider Wistron Corporation has sent out a request for proposals for a $600m five year loan.
  • The senior stage of South African pharma Aspen's $2bn new money loan is due to close this week, with lenders expecting the deal to have attracted plenty of commitments already as it heads into general syndication.
  • FIG
    Emerging market lenders this week found themselves in the unusual position of hoping a deal will struggle, as the signing date neared for Akbank's contentiously-priced $1.5bn-equivalent refinancing.
  • PetroVietnam Gas Joint Stock Corporation has picked Cathay United Bank as the sole bookrunner to its $200m, seven year offshore loan.