Loans and High Yield
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Euromoney’s fifth High Yield Bond Conference on Wednesday provided high yield market participants with a rare head-on debate between a private equity executive and a high yield investor. There was a meeting of minds, but few concessions.
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Ares Management and GE Capital have deployed their senior secured debt fund to back CVC’s acquisition of Wireless Logic, the UK communications provider.
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Euromoney’s fifth High Yield Bond Conference on Wednesday provided high yield market participants with a rare head-on debate between a private equity executive and a high yield investor. -
Jaguar Land Rover, the UK premium car maker, has dipped for the second time in two weeks into a high yield market awash with demand, leading to lower funding costs.
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Campofrio Food Group, the Spanish processed meat producer, priced its €500m bond a day early on Tuesday at 3.375%, in an eager high yield market.
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Lodha Developers has started taking orders for its maiden bond on Thursday, having postponed the trade from the end of last year after demand was lacklustre. The Indian borrower is taking no chances this time around and has launched with a much wider pricing level to woo investors.
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Investors poured into China Shanshui Cement Group’s $500m bond on March 4 as a more than eight times covered book helped the company end a three year hiatus from the market. But the strong reception was mostly the result of generous pricing, observers said.
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The wave of cash flowing into Europe's high yield market, ahead of the imminent launch of the European Central Bank’s quantitative easing programme, is set to create extreme conditions in the coming months.
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German science publisher Springer Science set out pricing on its €600m-equivalent acquisition loan on Tuesday, with some existing lenders already warm to the deal.
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After a week in which the European corporate bond market was dominated by US issuers, European companies are asserting themselves once again.
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Air India has taken flight for a $315m 15 month bridge via two mandated lead arrangers and bookrunners. The money will be used to finance new aircraft as the state-owned company looks to modernise its fleet.
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China Shanshui Cement Group is making a return to the dollar market for the first time in three years, opening books to a five year non call three transaction on March 3.
