Top section
Top section
Specialist moves after 18 years in the market
New dangers are making deals harder to do, but pricing for the haves is still tight
Manager refinances 2023 deal, reset in 2024
More articles
More articles
More articles
-
Canadian insurer Sun Life Financial said it has agreed to buy 51% of Crescent Capital Group for up to $338m to expand its asset management business into mezzanine debt, middle market lending, high-yield bonds and broadly syndicated loans. -
HalseyPoint Asset Management has priced its second CLO with the applicable margin reset (AMR) feature embedded, broadening the use of the alternative method of repricing CLO securities to over $4.4bn of CLOs since 2017.
-
Cerberus Capital Management auctioned off one of the largest ever portfolios of UK mezzanine mortgage bonds on Thursday, following a deterioration in the terms available in the ABS repo market after the Covid crisis made it uneconomic to continue to hold the deeply subordinated and risky positions.
-
Permira opted to rescue its debt purchasing portfolio company Lowell from the restructuring that many thought was imminent, with the largest slug of equity support any sponsor has injected in Europe since the coronavirus pandemic began. Covid-19 has crushed cashflows for some debt purchasers, but next year should be a bumper year for NPL buying — for those firms with cash to do so, writes Owen Sanderson.
-
The €2.6bn financing for Adevinta’s purchase of eBay Classifieds looks set to be a blowout success, with sharp tightening across all tranches underlining the bid for quality credits enduring limited pandemic impact. The deal’s double-B rating helps attract rating-sensitive investors who have seen their portfolios pummelled this year by Covid-related downgrades.
-
Leveraged finance bankers coping with a slump in deal flow in Asia this year are gearing up for a bumper start to 2021, as a return of liquidity and growing interest from institutional investors for loans set the stage for a market revival. Pan Yue reports.
Sub-sections
shared comment list
