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
-
Sanitec, the Swedish bathroom fixtures firm, saw its stock price rise as it was floated on the Swedish stock exchange on Monday.
-
Empark, the Spanish car parks operator, attracted a strongly oversubscribed book for its €385m bond debut.
-
Some large shareholders this week grabbed the opportunity to drain the final dregs of 2013 liquidity, launching block trades for stakes in firms including Bpost, St James’s Place and CAT Oil (see separate stories). With investors’ Christmas parties competing for attention from next week, a final flurry of block trades were squeezed into this week’s business.
-
German high yield issuers Heidelberger Druckmaschinen and Wepa took advantage of tightened secondary spreads this week with taps for around €50m each.
-
With demand for leveraged loans far outweighing supply, deal sponsors are pushing for unprecedentedly loose documentation, writes Olivier Holmey. Already reducing margins, extending maturities and pushing up leverage ratios on their portfolio companies’ debt, private equity firms are now even seeking to rid transactions of their core incurrence and maintenance covenants. -
Mexican petrochemicals company Grupo Idesa’s inaugural international bond traded up after pricing, as bankers close to the deal highlighted the spread of demand the issue attracted despite a modest book.
-
Scout24 has prepared the debt structure backing its partial takeover by Hellman & Friedman, ahead of the deal’s launch in January 2014.
-
Ashtead, the UK-based equipment rental company, sold a $400m tap of its 6.5% 2022 high yield bond on Wednesday.
-
CMA CGM, the French container shipping business, sold its €300m unsecured bond on Tuesday. The 2018 deal came with an 8.75% coupon at 97.552 to yield 9.375%.
