© 2025 GlobalCapital, Derivia Intelligence Limited, company number 15235970, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Search results for

Tip: Use operators exact match "", AND, OR to customise your search. You can use them separately or you can combine them to find specific content.
There are 369,067 results that match your search.369,067 results
  • Vitamin Shoppe Industries faces the challenge of maintaining quality staffing and real estate, as well as intense competition in its vitamin, mineral and nutritional supplement retail market, according to Moody's Investors Service. The retail chain has grown to 116 stores over the past 25 years, and plans on opening 30-50 more stores a year, said Moody's analyst Richard Baldwin. "Can they find the managers and find the real estate?" he asked, explaining Moody's concern over these future tasks. He also commented on the congested market. "Every drugstore, and every Wal-Mart, and every supermarket sells [Vitamin Shoppe's type of product]" Moody's has rated the company's $125 million bank facility at B1, while its unsecured issuer rating is set at B2.
  • WCI Communities has closed on a secured $187 million construction term loan with Wachovia Bank, giving the home and residence building company enough cash to complete the building of two high-rise luxury residential towers, stated Steven Adelman, senior v.p. and treasurer. "This is the largest construction loan we've ever done," he said. "We had a very good reception," he added, commenting on the reaction from the syndicated loan market. He said that the line launched and closed in under three months.
  • WorldCom's bank debt clamored upwards alongside of bond prices on reports that Rudy Giuliani has joined on with David Matlin of Matlin Patterson Asset Management to raise $1 billion to purchase WorldCom bonds. Several small pieces of WorldCom's bank debt traded in the 24-25 context last week as traditional distressed players looked to buy into the paper. The paper traded two weeks ago in the 22 1/2 23 1/2 range. The names of the players could not be determined. Calls to WorldCom and Matlin were not returned by press time. Attorneys at Weil, Gotshal & Manges, the firm representing WorldCom, also could not be reached by press time.
  • The market for Encompass Services bank debt tumbled from the 30s into the 15-20 range immediately after the company filed for bankruptcy last Tuesday, but recovered somewhat with bids in the 20s after rumors that bank debt holders were looking to liquidate the company were quashed. No bank debt paper was seen trading last week. "Liquidation in the traditional sense of the word was not coming off of anyone's lips," said Michael Gries, chief restructuring officer for Encompass.
  • Fitch Ratings is keeping an eye on the notes of Structured Enhanced Return Vehicle Trust, series 1999-4 (SERVES 1999-4), a synthetic collateralized loan obligation managed by Conseco Capital Management through Bank of America's balance sheet, after the BBB notes were downgraded. The $95 million BBB notes have been downgraded by Fitch to BBB- after SERVES 1999-4 suffered defaults and trading losses. "The default rate has been higher, the recovery rate lower and the excess spread is a little less than expected," said Fitch Director Michael Gerity.
  • FleetBoston Financial has hired Joseph Mackiewicz as managing director and head of asset securitization. He joins from Citigroup where he was a managing director in the global securitized markets group. Calls to Mackiewicz were referred to Alison Gibbs, a spokeswoman with the Boston-based bank. Gibbs says the position is a newly created one.
  • A sell-side analyst and an investor have concerns about the high leverage and asbestos-related woes of Washington State-based Weyerhauser Co., a diversified forest products manufacturer, but disagree on how to add exposure in the sector.
  • FrontPoint Partners is marketing a distressed debt fund that will focus exclusively on debt in Canada.Philip Duff, partner and chairman, said the fund has no interest in the U.S. market and is instead looking to fish out some distressed gems among the $100-200 billion in distressed assets north of the border. "It's very rare that you see a dedicated pool of capital [and] investment strategy that's exclusively focused on Canada," he conceded. But he affirmed that the fund was not "about to go fishing in a pond where there aren't any fish."
  • Steady gains continued last week in high-yield. The wireless and tower sectors were the strongest performers, but most autos were up two points through Wednesday, and broadcasters climbed a point. Retail and media credits also made gains. Here is selected action.
  • The bank debt of Horizon Natural Resources, formerly known as AEI Resources, traded last week. Small pieces changed hands in the high 20s almost a week after the company filed for bankruptcy on Nov. 13, said a trader. This is the second time this year the company has filed for bankruptcy. Last week, traders quoted the paper as low as 25-28. In a written statement, Horizon Natural Resources claimed its liquidity crisis was caused by weak demand in the coal industry, increased inventories, and an uncompetitive capital structure. Michael Nemser, cfo, did not return calls by press time. The company has secured a $350 million debtor-in-possession facility from Deutsche Bank.
  • Integrated Defense Technologies completed a $135 million add-on to its existing $45 million "B" loan with a $5 million increase at the last minute, said William Collins, v.p. of administration for Integrated. Lead bank CIBC World Markets attempted to get the company as much capacity as possible for its $146 million acquisition of the Gaithersburg, Md., operations of BAE Systems, now known as Signia-IDT, he said. "[CIBC] tries up until the last minute to get you the best deal in the market. That, to us, is refreshing," Collins said.
  • Cofiri, the Rome-based merchant bank, is planning to start a securitization business in Italy, according to a senior official at the firm. The firm is making the move to capitalize on what has become a lucrative business in Italy, which now ranks closely behind the U.K. in terms of securitization market-size.