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
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The resurgence of European collateralized loan obligations this year is expected to continue following the summer break, but industry pros reckon the market could become dominated by the larger players, as smaller, thinly-capitalized managers struggle to get to grips with the European Banking Authority’s risk retention amendments.
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Greek provider of gaming and transaction processing systems Intralot, which postponed its bond issue in June, has relaunched the deal. The transaction was announced on Thursday morning and was increased by €25m in the afternoon.
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Leveraged finance bankers will have little summer break this year as BMC Software, the US enterprise software provider, has launched its $4.5bn-equivalent covenant-lite loan package and $1.38bn high yield bond financing. -
Commitments to Tip Trailer’s new €333m-equivalent loan package, which will back the acquisition of the transport services company by China’s HNA, are due next week.
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Investors have unanimously consented to amend and extend the existing loans for UK used car retailer British Car Auctions. The new debt package was allocated on Wednesday (July 31).
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UK educational publisher TSL Education allocated its new £250m debt package on Wednesday, after deepening the discount to attract more investors.
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Eden Springs has reduced the size of its loans package from €225m to €186m after the company opted not to issue all its new facility across Europe, but to place part of it in its domestic market instead.
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UK sandwich shop chain Pret a Manger has completed the syndication of its new £375m senior facilities. The company expects to allocate the deal by Friday.
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The LatAm debt markets are hardly the paradise for issuers that they were earlier this year, but Caribbean hotel operator Playa Hotels & Resorts may look to raise $300m of seven year bonds next week despite sporting the lowest credit rating from any Latin borrower this year.
