Latest news
Latest news
Spreads on CLO liabilities stay wide, making resets for deals from multiple vintages unattractive
Fund is designed to invest in the equity in Bain’s CLOs, but can also invest in liabilities
Manager trims spreads on CLO’s investment grade tranches in partial refinancing
More articles
More articles
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Exopack Holdings, the US-based packaging group, set margin guidance on the dollar tranche of its $750m-equivalent transatlantic term loan at a bank meeting in New York on Tuesday.
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On the verge of a possible US default, the Markit iTraxx Europe Main and Crossover indices paradoxically closed on Tuesday at their tightest levels since April 2010, at 89bp and 358bp. The ratio between the two is exceptionally low, showing how far higher yielding credit has rallied.
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Loans backing dividend recapitalisations have reached their highest volume on record for the third quarter, as private equity firms continue to hold on to their assets rather than sell at a discount.
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KKR has emerged as the winner in the sales process of Serbia BroadBand. The private equity firm announced the acquisition today, which should mean another LBO financing in the high yield bond market. -
Source: Dealogic
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Source: Dealogic
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Exopack Holdings, the US packaging group owned by Sun Capital, has fixed pricing and original issue discount guidance on the euro tranche of its new transatlantic term loan ‘B’.
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CCM Pharma has fixed the deadline for early bird commitments to a debt repricing, as it seeks to reduce margins on its loans by as much as 75bp.
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Hastings Insurance Group raised £415m with high yield bonds on Monday to finance the takeover of 50% of its business by Goldman Sachs’s Merchant Banking division. Bankers claimed the deal was the first European insurance LBO to be financed in the high yield market.
