Pre-migration untagged articles
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The sharp fall in leveraged loan values means that market value CLOs are coming close to unwind triggers. Those that can’t access liquidity may hit the market with fire sales of their portfolios over the next weeks.
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Butch Ben and Sundance Hank
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Agency debt was hit mid-week as Barclays Bank’s government guaranteed Eu3bn three year issue flashed warning lights to investors that an over supply of triple-A rated paper may be imminent.
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The Swiss market again digested expensive Nestlé paper this week, and two Canadian provinces raised francs, but supply was hit by the dislocations affecting the sovereign, supranational and agency market.
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Royal Bank of Scotland started issuing under the UK government guarantee this week using commercial paper, following in the steps of Bank of Scotland, which last week made its own guaranteed debut in the commercial paper market.
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John Radak, cfo of Quidel Corp., on why the company decided to secure financing for product-line acquisitions now.
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Beer is in the air.
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TXU's, now Energy Future Holdings, $7 billion B2 term loan was rumored to be oversubscribed at par, even though it had launched a week earlier with an original issue discount of 99 1/2.