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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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Alcentra is aiming to price its Jubilee 2013 X European collateralized loan obligation by the end of May, with price talk on the senior tranche understood to be in the area of 125 basis points over six-month EURIBOR.
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Ineos, the Swiss-domiciled chemicals firm, has refinanced its loan facilities, repricing its existing covenant-lite deals and raising new term loans totalling almost $1.1bn to repay its 2015 high yield bonds.
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Commodities trader Mercuria Energy launched a new $1.4bn loan facility on Tuesday, with eight banks mandated to lead a refinancing of its existing debt. The launch comes as fellow commodities trader Stemcor came to a standstill agreement with its lenders over a maturing $850m revolving credit line.
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Russian investment firm Renova has signed a Sfr1bn ($1.06bn) loan from a club of five banks as the firm looks to maximise its funds after the sale of its stake in TNK-BP.
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Kuwait Foreign Petroleum Exploration Co (Kufpec) is set to sign its $750m five year loan within the next ten days.
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Eircom, the recently defaulted Irish telco business, is looking to sell its €310m high yield bond tomorrow. Guidance in the 9.5% area for the seven year senior secured notes was released this afternoon.