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Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal could include $950m of bonds
Upper mid-market firms eschew ‘exciting’ stories as cracks emerge in European private credit
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Indonesian multi-finance companies are continuing to favour club loans over syndicated deals, with Federal International Finance becoming the latest firm to use this route for its fundraising. Pan Yue reports. -
CIFC Asset Management has issued a CLO committing $145,000, alongside other deal parties, as a donation to the non-profit organization Black Girls Code to support racial equality. CIFC Funding 2021-IV is the deal that has inaugurated the 'CLO Initiative for Change,' a philanthropic program that plans to make a contribution to different organizations each year.
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Akropolis, which operates shopping centres in the Baltic region, is readying a debut high yield bond issue.
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The Joint Committee of the European Supervisory Authorities (ESAs) has released its hotly anticipated report on European securitization. But market participants are calling it a missed opportunity, pointing out that it fails to address recommendations made by the High Level Forum on the Capital Markets Union to develop the market.
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Dagmar Kent Kershaw, former head of ICG's credit business, has joined the board of Axa Investment Managers' listed Volta Fund, which invests largely in CLO equity, alongside risk transfer deals, CLO debt and ABS.
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Premier Foods announced a long-expected refinancing of its main wholesale debt, a £300m 2023 bond which first came up for call last year. The refi comes as the firm published preliminary results to the end of Q1 showing profits up more than 20% for the year, and debt levels coming down.
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