Search results for

Taiwan's Securities And Futures Commission is preparing to launch the onshore equity-linked note market this summer in a step to liberalize the market. "This will happen in June or July," according to an official at the SFC. The SFC had initially planned to launch the products by April (DW, 11/24) but market officials said it had been slowed by issues surrounding the settlement of derivatives as well as negotiations between regulating bodies. The government will likely first permit local houses to offer the products then further open it to foreign players. The official at the SFC declined further comment.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

BondWeek is the leading news publication for fixed-income professionals, covering new deals, structures, asset-backed securities, industry and market activity.

This chart, provided by Citibank/Salomon Smith Barney Inc., tracks bid-ask prices for par credit facilities that trade in the secondary market. It also tracks facility amounts, ratings, pricing and maturities.

Natural Resource Partners (NRP) has expanded its $100 million revolver for possible acquisition opportunities and also could possibly go after a term loan. The increased bank commitments brought NRP's line up to $175 million with no change in the pricing or terms of the original agreement. Dwight Dunlap, NRP cfo, said the company has its sights on new acquisitions, but declined further comment on the matter. As LMW went to press NRP announced the $53 million acquisition of two subsidiaries of Alpha Natural Resources.

Owens Corning was softer again last week as the company began litigation last Tuesday to move toward confirming its plan of reorganization. The bank debt was a few points weaker at 64-67, according to traders. No trades could be confirmed. "Owens Corning has been on again and off again and now it's off again," said one buysider, noting that the market for the company's bank debt has been volatile throughout the bankruptcy process.

Pieces of Dynegy's new loan for its Dynegy Holdings subsidiary were trading last week, with the new $1.1 billion revolver and the $200 million "A" term loan moving as a pro rata piece in the 94 1/2 96 context. No trades could be confirmed, however, for the company's new "B" piece. The market for the "B" tranche was quoted in the 93 95 range. The "B" loan only has a second priority lien on Dynegy Holdings' assets, compared to the pro rata portion, which has a first priority lien. While the pro rata replaces Dynegy Holdings' existing $900 million and $400 million unsecured revolvers, the "B" loan replaces a communications lease.