Pre-migration untagged articles
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Strategic mergers and acquisitions loan volume is far outpacing leveraged buyout loan volume this year, as private equity sponsors find it difficult to obtain their profit-driver: leverage.
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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.
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-- Mike DuBose, ceo of Vertis, on his company and American Color Graphics filing prepackaged bankruptcy plans before merging.
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Crowds outside Toys "R" Us in Times Square in New York last Thursday were not waiting for a ride on the Ferris wheel.
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Santander on Monday announced that it had agreed a deal to buy Alliance & Leicester (A&L) in an all-paper deal which buoyed faith in the UK banking market. Santander priced the bank at 299p a share, bringing the total price of £1.26bn. This price offers a 36.4% premium to where A&L’s shares closed on Friday.
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Supranational borrowers the World Bank and the European Investment Bank dominated niche currency issuance this week.
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US dollar swap spreads didn’t know which way to turn this week. On the one hand the deterioration of counterparty credit brought about by the ongoing financial crisis suggests swap spreads should widen (and of course they are much wider than a year ago).
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Bonjour Monsieur Bunning
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Participants in the EuroCP market remained generally jubilant this week.
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Dealers of private EMTNs: Non-syndicated deals for less than $250m excluding financial repackaged SPVs, self-led deals and issues with a term of less than 365 days.
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The Swiss franc market proved its reputation for resilience this week in conditions that hit all financial markets hard.
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The US Federal Deposit Insurance Corp revealed on Tuesday its final policy statement on covered bonds. It fell short of the demands of some market participants but was widely welcomed as providing a concrete foundation for the US market.