Latest news
Latest news
Debut manager is launching a CLO platform building on leveraged loan market experience
Despite unfavourable equity arbitrage, CLO issuance continues at pace
Triple-A rated CLO spreads tighten at last and a template is established for European data centre ABS
More articles
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The European CLO market is poised for a bumper start to the new year after delivering its largest deal of 2013 this week to cap a striking rehabilitation, writes Joe McDevitt. The €615.7m Richmond Park transaction brought this year’s sales to close to €7bn — significantly ahead of the less than €5bn eked out over the previous four years.
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Less than two months after its last bond issue, HeidelbergCement was back in the market with a €500m eight year deal on Tuesday, paying the same yield as it had on a seven year in October.
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Astaldi, the Italian construction company, has tapped the seven year debut bond it sold last week at a much tighter yield.
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K+S, the German potash and salt producer, raised €1bn on Monday with its third and largest bond issue, though bankers said it sold the bonds cheaply.
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Loans bankers expect the syndication of the debt backing Hellman & Friedman’s partial takeover of directories business Scout24 to be launched no earlier than January 2014.
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Abengoa, the Spanish engineering and renewable power group, has announced a dollar bond issue, after raising €550m in the euro market this year.
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Alcatel-Lucent, the French-US telecoms equipment maker, took two more steps forward in its complex refinancing process on Thursday. The company’s ratings have fallen six notches since 2006 amid persistent losses.
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Lead managers of the $1.7bn high yield bond issue for Altice, the telecoms investment group, priced the three tranche deal on Thursday afternoon New York time, to finance two acquisitions in the Dominican Republic.
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Darling International, the US food products firm, was due to hold a bank meeting with potential investors in New York on December 5, to market a new $1.2bn transatlantic loan package to finance its acquisition of Dutch firm Vion Ingredients.