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New dangers are making deals harder to do, but pricing for the haves is still tight
Manager refinances 2023 deal, reset in 2024
◆ Double-B French telecoms brings IG-style execution ◆ Demand peaks over €2bn ◆ Pipeline looks thin as uncertainty over Middle East conflict looms
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The manager’s short deal was pricier for the issuer than the 2018 new issue
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Apollo gets tighter discount on third Lottomatica sale and secret investor consortium sell Dr Martens shares
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Morose investors doubt their ability to capitalise on crowded market
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Apollo affiliate lands the second tightest triple-B tranche of any European CLO this year
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Most bankers unconcerned by 25bp or 50bp cut, but some worried about signalling
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The newest CLO trustee is working on a middle market deal
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