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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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Russian steel producer Magnitogorsk Iron and Steel Works (MMK) has sent out a letter to banks requesting feedback on market conditions as the firm considers raising a new loan.
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Polish telecoms firm Polkomtel has sent out a request for proposals to refinance its $1.76bn-equivalent September 2011 buyout loan, three and a half years before the first tranche is due to mature.
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MJX Asset Management returned to the collateralized loan obligation market with a $600 million CLO arranged by Jefferies & Co.
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Bank lenders to Norske Skog have agreed to reset the financial covenants on the company’s revolving credit facility while halving the size of the line.
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Lenders have been invited to commit to the $2bn-equivalent European portion of the financing backing the LBO of ketchup giant Heinz, with an investor meeting being held in London on Friday. The European portion of the financing consists of up to $1.4bn-equivalent in euros and a sterling-denominated portion of up to $600m-equivalent.
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Alibaba Group’s plan to borrow $8bn in the loan market has caused jitters among senior bankers, who worry that the sheer size of the deal will be too much for Asian lenders to absorb. But they should not fret. The odds are stacked in the company’s favour.