Latest news
Latest news
An interview with Propel and the BBB, a busy Q1 for ABS, more arb headaches for CLO managers
Resets for 2021 and 2024 deals are less attractive to managers due to wider liability pricing
Spreads for the triple-A rated notes were similar to the manager's previous deal
More articles
More articles
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Global Ship Lease, the London-based container ship lessor, has withdrawn its sale of a $400m high yield bond, blaming market conditions. -
As one of the most active years on record for U.S. collateralized loan obligations comes to a close, market players are grappling with a finalized Volcker rule that raises crucial questions for the sector, a lack of anchor triple-A investors and struggling arbitrage. Sajid Zaidi, executive director at Morgan Stanley—one of the most active CLO arrangers with $9.6 billion priced this year—spoke with SI Managing Editor Graham Bippart about how the bank is dealing with the rules, and what he expects for next year.
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US food products group Darling International allocated $1.8bn of debt late on Wednesday, after increasing its loan to $1.3bn-equivalent.
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Prospective investors in the new $400m high yield bond issue by Global Ship Lease were due to recommit by 10am New York time on Thursday after the container ship lessor revised its covenants yesterday.
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Bartec, the German maker of explosion protection systems, has refinanced debt with an all-bullet capital structure, removing two covenants in the process.
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The amount of credit supplied by collateralized loan obligations to U.S. companies could be reduced by as much as 90% if regulators move ahead with risk retention rules as now written, according to a study from consulting firm Oliver Wyman.
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German healthcare firm GHD GesundHeits has allocated €121m of add-on loan facilities, to be used in part to repay a mezzanine loan ahead of its maturity.
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ZellBios, which makes pharmaceutical ingredients, is raising €125m of drawn and undrawn debt to finance its buyout by Deutsche Private Equity.
