Latest news
Latest news
Major sectors in leveraged loans are trading down, making shrewd credit selection vital
Deal is one of the tightest prints this year and is the second European CLO solely arranged by Mizuho
Debut manager is launching a CLO platform building on leveraged loan market experience
More articles
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Tank & Rast will lift the leveraged loan market with a long awaited €2bn refinancing by the end of next week, according to bankers. The German motorway services operator, which is owned by private equity firm Terra Firma, will shun the unsecured bond market for an offering of mostly senior secured loans.
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The Loan Market Association has launched new documentation for use in leveraged acquisition finance transactions, in response to the increased use of a specific type of bond-loan debt structure.
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Energias de Portugal, the Portuguese electricity company, has sold a €600m bond having attracted €2.4bn of orders. The long seven year bond was priced with a 4.125% coupon on Wednesday and traded up on Thursday.
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High yield bond bankers and investors expect the European market to grow further next year — in size and likely also in aggressiveness — after this year's record deal output of €76bn so far.
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CLO managers putting together new deals in the next few quarters may find sourcing loans easier when older CLOs are called as they leave their reinvestment periods, according to rating agency Moody’s.
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OSX, the shipbuilding, oil equipment and services arm of Eike Batista’s crumbling Brazilian EBX conglomerate, filed for bankruptcy with a Rio de Janeiro court on Monday, following sister company OGX’s identical move on October 30.
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Albéa Beauty’s planned PIK toggle deal has been postponed. The $150m transaction to finance a dividend to its shareholders led by Sun Capital Partners was announced last week and was expected to be priced on November 6.
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Ista International, the German metering company, had received enough commitments from existing and new investors by Wednesday to achieve its debt repricing.