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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
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Italian facilities management business Manutencoop priced its high yield bond on Friday, but dropped a planned FRN and sold the whole deal fixed rate. The issue was reduced from €450m to €425m.
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Source: Dealogic
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Source: Dealogic
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Deutsche Bank is arranging GSO Capital Partners’ second European collateralized loan obligation of the year, a deal which will likely be placed following the August holiday period.
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Deutsche Bank is arranging GSO Capital Partners’ second European collateralized loan obligation of the year, which will likely be placed following the August holiday.
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Manutencoop, an Italian facilities management business, wants to sell €450m of high yield bonds in another debut transaction from Italy. It released price guidance for the transaction on Thursday and plans to price the notes today (Friday).
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CDS: week’s biggest movers — Markit CDX North America investment grade index — Markit iTraxx Europe subordinated financials index — Markit iTraxx Europe senior financials index — Markit iTraxx SovX Western Europe index — Markit iTraxx Europe index — Markit iTraxx crossover index
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Greek debt is back in the high yield market, after the recent flurry of peripheral European deal announcements. S&B Industrial Minerals, the Greek miner and ore processor, is looking for €275m of senior secured notes, while five Italian debut issuers were also vying for investors’ attention.
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Picard, the frozen food producer and retailer, sold its €480m floating rate note on Thursday at the tight end of guidance. The notes jumped higher on the break to trade around 100.875 on Thursday afternoon.