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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Metallum expects to allocate its €295m loan package later this week, after receiving sufficient commitments from lenders on Friday. The metal recycling and processing company will use the money raised to support its buyout by private equity firm TowerBrook Capital Partners.
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French funeral services company OGF has entered early-bird discussions with potential lenders for its new debt. The loans package, which the leads expect to total €635m, will back the company’s €900m acquisition by private equity firm Pamplona. -
Bookrunners on Italian gaming company Cogetech’s debut senior secured note surprised the high yield market on Friday by pulling the deal after books closed.
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Lenders submitted final commitments to ConvaTec’s debt amendment on Friday. The UK developer of medical technologies expects to allocate the deal, which was oversubscribed, on Monday afternoon.
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How healthy is a loans banker? Not very, you might think. A diet of all things financing takes its toll, no doubt. The banker’s daily bread — a complex carb blend of margins, discounts, currencies and broader market fluctuations — isn’t easily digested. And the sleepless nights, oh the sleepless nights!
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Managers of collateralized loan obligations say the sector would shrink by 75% or more if risk retention rules go into effect as currently proposed, according to a survey from The Loan Syndications and Trading Association of managers representing nearly 70% the CLO market.
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Collateralized loan obligations are gaining back some of their relative-value shine as spreads on new-issue deals resist the tightening being seen in commercial mortgage-backed securities.
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Source: Dealogic
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Ewos Group, the Norwegian supplier of feed and nutrition for farmed fish, will finance its takeover by private equity firms Altor and Bain Capital with secured and unsecured high yield bonds.
