Leveraged Loans

  • Goldman slips up as JPM powers ahead

    Goldman slips up as JPM powers ahead

    JP Morgan, Citi and Goldman Sachs kicked off the third quarter results season for investment banks on Tuesday. While debt and equity underwriting revenues grew substantially at JP Morgan compared with the equivalent quarter of last year, they fell at Goldman.

  • Macquarie hires UBS’s Repaci to lead new levfin group

    Macquarie hires UBS’s Repaci to lead new levfin group

    Macquarie Capital has hired UBS banker Vincent Repaci to head a new asset-based lending group to cover sponsor clients, supporting LBOs, refinancings and restructurings. He joins three other recent senior hires in leveraged credit at the firm.

  • People moves in brief

    People moves in brief

    UBS names levfin head — Mizuho finds four high yield bankers — Fintech firm Nivaura gives role to ex-HSBC syndicator

  • Acquisition target Low & Bonar asks for covenant holiday

    Acquisition target Low & Bonar asks for covenant holiday

    Low & Bonar has asked its lenders to waive covenant testing on its credit facility, as the UK polymers company battles through a tough trading period and tries to ensure its acquisition by a German rival goes ahead.

  • Investors look for cracks in thumping corporate market

    The search for yield is shovelling more fuel on to the fire of an already blazing corporate bond market. Investors are keeping a close watch on Enel’s euro sustainability-linked bond issue, which is being marketed via investor calls on Wednesday, as a gauge of the market's health.

  • Bain and Blackstone buyout bonds clamp down on ‘net short’ investors

    Bain and Blackstone buyout bonds clamp down on ‘net short’ investors

    The bond leg of the loan-dominated buyout packages for Kantar and Merlin hit the market on Monday, giving investors a chance to buy subordinated debt in size. But both Bain Capital, and Blackstone, the sponsors, have included controversial provisions to limit the rights of noteholders who are ‘net short’.

  • Apollo-owned Lumileds could top 14x leverage

    Apollo-owned Lumileds could top 14x leverage

    A brutal market for auto suppliers and a string of dividend deals have left Lumileds, a maker of LED lighting and an Apollo portfolio company, staring at a leverage level which could top 14 times by year-end, according to Moody’s. The company’s loan saw the largest price fall in Europe over the last quarter, according to IHS Markit, and is now bid around 47, compared with 70 in June.

  • Credit markets take advantage of breather before Brexit

    Leveraged credit investors are keen to put cash to work this week, and arrangers see a plausible window to execute deals. Opportunistic and strategic financings are both on offer. UK issuers are well represented, nipping through a window before political uncertainty grips the market over the Brexit deadline at the end of the month.

Leveraged loans news archive