Latest news
Latest news
Manager trims spreads on CLO’s investment grade tranches in partial refinancing
New hire spent spent more than a decade at Arnold & Porter
Deal priced 1bp wide of Oaktree's previous new issue transaction
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Fresenius has placed the bulk of its new €1.2bn debt package with banks, after increasing its term loan 'A' tranche from €450m to €600m at the expense of the term loan 'B'.
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Numéricable, the French cable firm, increased its new debt package by €300m before allocation earlier this week, aiming to refinance Completel's floating rate notes.
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Finmeccanica, the Italian air defence and security group, sold its first speculative grade rated bond on Tuesday. The €700m long seven year bond still mainly attracted investment grade accounts, according to a banker. -
RAC, the UK car breakdown service, allocated its new term loan and repriced all its outstanding debt on Tuesday, after closing the books heavily oversubscribed.
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Snai, the Italian betting company, increased the senior secured tranche of its bond to €320m and revised guidance on both tranches on Wednesday.
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Italian construction group Astaldi has released price talk for its debut high yield bond. The €400m seven year notes are guided in the 7.25% area.
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Afren priced a $360m seven year non-call three bond this week. The deal will fund a tender offer, which Afren has adjusted after a rousing response from early bird bondholders.
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Switzerland-based investment fund and collateralized loan obligation equity buyer Livermore Investments plans to sponsor the equity of the first four deals of joint venture partner Covenant Credit Partners, according to Covenant CEO Marc Boatwright.
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Standard & Poor’s will not downgrade any European companies as a result of its wide-ranging changes to corporate rating criteria, which it has been preparing since June. However, it has placed eight Asia Pacific companies on CreditWatch negative.
