Latest news
Latest news
Deal comes only slightly outside mainstream CLOs
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
More articles
More articles
-
Leveraged loans - news in brief, August 9, 2013
-
The European CLO market continued to make light of any seasonal summer slowdown this week, with 3i Debt Management and Haymarket Financial pricing deals. GSO Capital Partners could also price its second CLO of the year as soon as Friday.
-
BMC Software has radically changed the structure and currency split of its new $5.858bn-equivalent debt financing to feature a smaller loans package — and fewer euros. In its amended form, the transatlantic deal consists of covenant-lite loans worth $4.233bn-equivalent and a high yield bond of $1.625bn. -
Minimax Viking has priced the euro tranche of its new transatlantic debt at the tight end of guidance, with allocation due late on 8 August.
-
The limited pool of buyers for the senior portions European collateralized loan obligations are looking to push spreads on the triple-A bonds off upcoming deals wider, according to CLO officials on the frontline in London. But some officials fear new deals could be tough to execute in the long run without an anchor investor for senior tranches.
-
Haymarket Financial added some structural diversity to the European collateralized loan obligation market this week, pricing its multicurrency Hayfin Ruby II SCA CLO which was backed by a mixed pool of broadly syndicated loans as well as loans originated by Haymarket itself.
-
Springer Science and Business has sold a stealthy €640m floating rate bond to a handful of investors.
-
Minimax Viking has priced the euro tranche of its new transatlantic debt at the tight end of guidance, with allocation due in the afternoon on Thursday.
-
Payment-in-kind (PIK) bonds are the flavour of the year. This has unquestionably been the case in the US leveraged finance market, but bankers are also expecting to see more PIKs in Europe. ConvaTec, a UK-based wound and stoma care firm, has become the latest European issuer to sell PIK notes — in big size, with a short execution and in order to pay a large dividend.
