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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An amend and extend of outstanding debt by Worldwide Flight Services, the aviation company owned by private equity firm LBO France, received unanimous consent from the company’s existing group of investors on Tuesday. The deal, which will close in the next few weeks, will extend the maturity and substantially increase the margins on two of the debt’s tranches.
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The pipeline of new European collateralised loan obligations is building, but a lack of investors at the top of the capital structure and a scarcity of assets will drag on the pace of issuance, said market participants.
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Douglas reprices - Skrill allocates - Card Factory's tight issue - Funds back Campbell Europe - Britax margin out
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Annual global leveraged loan volumes have crossed the $1tr mark for the first time since the financial crisis, according to a new report by Dealogic, leading to concern among some bankers that the levfin market may be approaching bubble territory last seen in 2007.
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Scandlines, the German-Danish ferry operator, has given the European leveraged loan market a healthy start to October with the launch of a new €875m loan package. The debt, arranged and underwritten by a group of eight banks, will partly serve to refinance outstanding debt and back the buy-out of Allianz Capital Partner’s stake in the company.
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The pipeline for European collateralized loan obligations is building, but the lack of investors at the top of the capital stack and the relative scarcity of assets will continue to be a drag on the pace of issuance, market players say.
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Campbell Europe, the soup maker, dished out €320m of senior loans on Wednesday, after high levels of interest from European institutional investors last week enabled the leads to price the deal at the tight ends of margin and OID guidance.
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The merger of Portugal Telecom and Oi, Brazil’s largest telecoms company, is credit-positive for the Portuguese firm, according to bond market sources.
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Smurfit Kappa has announced that it will call its €500m 7.25% 2017 bond. The Dublin-headquartered paper packaging producer can call the bond from November 15 this year.
