Latest news
Latest news
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Manager adds almost €100m across the CLO's capital structure
The triple-A rated notes' spread widened by 25bp compared to the original deal
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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.
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BMC Software was able to increase the size of the high yield bond portion of its LBO financing late on Wednesday in New York, despite having scrapped its €250m euro tranche. The final deal priced $245m larger than initially planned, at $1.625bn.
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Apollo Global Management is getting ready to issue two new collateralized loan obligations totaling $1.78 billion, both via arranger JPMorgan.
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3i Debt Management has priced a EUR310 million ($412.76 million) European collateralized loan obligation, Harvest CLO VII.
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Barclays has reshuffled the management of its EMEA leveraged finance business, moving one of its co-heads to a chairman role and reallocating the syndicate responsibilities of the other co-head, EuroWeek understands. -
Transport services company Tip Trailer has flexed the margins and deepened the discount of its transatlantic loan package.
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ConvaTec allocated a series of amendments to its outstanding debt on Tuesday. The UK developer of medical technologies was able to price the term loan ‘B’ at the tight end of guidance and also chose to modify its structure to feature dollars more heavily.
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Minimax Viking has entered the documentation phase of its new transatlantic debt issuance, after receiving sufficient commitments on Tuesday (August 6). The leads expect to confirm the margins and allocate the loan by Thursday.
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Schenck Process completed on Monday (August 5) an amendment and extension of its outstanding debt. Under the terms of the A&E the company has extended most of its financing by two and a half years. It has also increased the size of the debt.
