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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Private equity firms KKR and Permira sold a €767m stake in ProSiebenSat.1 Media on Tuesday evening, with the trade having difficulty finding coverage after a similar deal in February. The stock traded below issue price on Wednesday morning, but recovered in the afternoon.
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Investors in Nokia's debt and credit default swaps have welcomed the Finnish company's decision to sell its handset business to Microsoft and refocus the business on its recently rebranded Nokia Solutions & Networks business. -
The case for investing in the equity tranches of European or U.S. collateralized loan obligations is not compelling at the moment because returns do not sufficiently reward the risks involved, two veteran CLO equity investors told delegates at the Euromoney LevInvest European CLO Congress in London on Tuesday.
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The Capital Requirements Directive’s 122a risk retention rule — referred to by market participants as the "skin in the game" clause — loomed large over two days of panel sessions at the Euromoney LevInvest European CLO Congress in London this week. Speakers on Tuesday said that managers were likely to remain restricted in how they approach the requirement.
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The Capital Requirements Directive’s 122a risk retention rule—the so-called ‘skin in the game’ clause—loomed large over two days’ worth of panel sessions at the Euromoney LevInvest European CLO Congress in London this week, and speakers on Tuesday say managers are likely to remain restricted in how they may approach the requirement.
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German healthcare group Aenova is seeking consent from existing lenders to take over pharmaceutical firm Haupt Pharma. The acquisition forms part of plans to expand Aenova’s market share, as laid out by the company's private equity owner, BC Partners.
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The case for investing in the equity tranches of European or US CLOs is not compelling at the moment because returns do not sufficiently reward the risks involved, two veteran CLO equity investors told delegates at the Euromoney LevInvest European CLO Congress in London on Tuesday. In addition, those equity investors that are participating in new deals are finding themselves in a tussle with triple-A debt investors over the inclusion of protective features, delegates heard at an earlier panel.
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The European collateralized loan obligation market is set for another wave of consolidation, according to Jeremy Ghose at 3i Debt Management, speaking on Monday at the Euromoney LevInvest European CLO Congress in London.
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Continental's €750m issue yesterday has reopened Europe's high yield bond market, and other issuers, particularly fallen angels, are likely to sell bonds in the coming weeks.
