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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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  • Neuberger Berman became the fourth recent issuer of a collateralized loan obligation to include a class of bonds that allows the manager to call investor commitments after the deal’s close.
  • Australia’s Leighton Holdings is in the market for an A$700m ($722m) three year loan, as it looks not only to repay an old facility of A$600m from 2010, but has also added on to the deal to raise money for general corporate purposes.
  • The sole bookrunner for BFI Finance Indonesia’s $75m three year loan is holding roadshows today and tomorrow in Taipei and Singapore respectively, as it drums up support for the company’s deal.
  • Oil India is preparing to make its debut in the offshore dollar loan market, and has sent out a request for proposals to banks for a $250m five year loan.
  • Fubon Bank has launched United Laboratories International Holdings’ $80m three year loan into general syndication, but is still welcoming lenders to join the deal at the top level.
  • New issuance of collateralized loan obligations picked up after a two-week drought, easing fears that a key regulatory change that went into effect in April would stifle the market.