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US issuers and insurance companies could benefit as Moody’s relaxes parts of its approach
Investors attracted by relative value versus loans but are not blind to risk
Floridian manager registered the vehicle in Ireland with article 8 SFDR classification
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Leveraged loans - news in brief, August 9, 2013
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BMC Software has radically changed the structure and currency split of its new $5.858bn-equivalent debt financing to feature a smaller loans package — and fewer euros. In its amended form, the transatlantic deal consists of covenant-lite loans worth $4.233bn-equivalent and a high yield bond of $1.625bn. -
Minimax Viking has priced the euro tranche of its new transatlantic debt at the tight end of guidance, with allocation due late on 8 August.
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Springer Science and Business has sold a stealthy €640m floating rate bond to a handful of investors.
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Minimax Viking has priced the euro tranche of its new transatlantic debt at the tight end of guidance, with allocation due in the afternoon on Thursday.
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Payment-in-kind (PIK) bonds are the flavour of the year. This has unquestionably been the case in the US leveraged finance market, but bankers are also expecting to see more PIKs in Europe. ConvaTec, a UK-based wound and stoma care firm, has become the latest European issuer to sell PIK notes — in big size, with a short execution and in order to pay a large dividend.
