Pre-migration untagged articles
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The first set of amendments related to deep discount obligation substitution has been implemented in collateralized loan obligations, giving managers greater flexibility in which credits they buy.
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--Don Pollard, co-head of the Global Leveraged Finance Group at Credit Suisse, about Howard Tiffen, CIN's 2009 Outstanding Contribution Award recipient.
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Capitulation among investors and a dearth of supply in the primary market are anchoring the leveraged loan market's steady, dramatic rise, say market participants.
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Two new deals launched last week, after months of a near-drought in the primary market, and they met with robust demand.
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After an evening of drinking, cheering and jeering at the 2009 Credit Investment News Best Trading Desk Awards last Wednesday, traders left the urbane Union League Club and went looking for the Galway Hooker.
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Citigroup sold off its exposure to LyondellBassell, prompting the company to tap Goldman Sachs as its new left lead.
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Ambac Assurance UK has filed a lawsuit in the name of Ballantyne Re accusing JPMorgan Investment Management of breach of contract, breach of fiduciary duty and gross negligence. It is seeking $1bn in compensatory damages.
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Confidence in banks improved further this week as some dealers reported lengthening maturities and more diverse names.
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Vindication at last for Barclays’ refusal to take government money and support for the independence of its investment banking arm, Barclays Capital, shone in the group’s interim management statement released on Thursday.
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Not as bad as it could have been. That was the reaction of leveraged finance bankers over Blackstone Group’s net loss of $93m for the first quarter and compares well with a fourth quarter loss of $827m.
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Swiss construction company Sika sold a Sfr300m June 2014 bond through UBS at mid-swaps plus 170bp yesterday (Thursday).
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BNP Paribas’s first quarter results confirmed what much of the market knew already, having a strong fixed income franchise is one of the best ways to make money right now.