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Manager trims spreads on CLO’s investment grade tranches in partial refinancing
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Deal priced 1bp wide of Oaktree's previous new issue transaction
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Food distributor Brakes is one of three high yield issuers trying to sell sterling bonds this week. The company, owned by Bain Capital, hopes to issue £200m of five year notes.
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Grainger, the UK residential property owner, wants to sell a £200m seven year high yield bond. The notes will be secured and will refinance loans.
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Norske Skog, the Norwegian pulp and paper maker, has signed a three year loan agreement for Nkr250m (€30m) with SpareBank 1.
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DFC Group, the US-listed payday lender, wants to refinance dollar bonds with sterling and Canadian dollar high yield notes.
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Advent International expects to seek €605m of debt to back its acquisition of Unit4, the Dutch software maker.
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Vivacom priced its €400m high yield bond inside price guidance on Friday. The Bulgarian telecoms company priced its debut five year notes at par to yield only 6.625%.
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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.