Pre-migration untagged articles
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Steve Sterling left now-defunct Bear Stearns, where he was managing director and head of high-yield capital markets and loan sales.
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--Kenneth Emery, director of corporate default research at Moody's Investors Service, on default-rate forecasts that show defaults doubling in the next year.
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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. Data provided by Markit Group.
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Avista Corp. has landed a 364-day, $200 million revolving credit facility to provide liquidity in case the Spokane, Wash.-based energy player needs to repurchase bonds due in December, should it not be able to reprice the debt with favorable terms.
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"O Christmas tree, O Christmas tree."
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General Motors announced its sales fell 11% in Nov. 2007 and its loans traded down as low as 93-93 1/2 after the news.
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Legacy Reserves, a Midland, Texas-based developer of oil and natural gas properties, has increased borrowing capacity to $410 million by adding four new banks to the syndicate--after one dropped out.
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--Steven Pruett, Legacy Reserves cfo, on the initial banking group refusing to fund up to the company's borrowing base.
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The following charts show the top five advancers and decliners in terms of % moves in the loan, bond and credit default swap markets for the previous week. Data provided by Markit Group.
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Deutsche Bank placed a stream of 9-1/2 year sovereign, supranational and agency floaters on Tuesday with a single European investor. The FRN pairs, which amount to $285m and Eu160m, have a longer maturity than many dealers are seeing demand for at the moment.
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Swedbank issued the first batch of Swedish government guaranteed MTNs yesterday (Thursday), selling floaters in yen, dollars and euros.
