Latest news
Latest news
Manager takes advantage of tight spreads available for refinancings to cut triple-A pricing by 14bp
How securitization can help high LTV mortgage lending, and why is the CLO market so busy
Portfolio includes private credit transactions originated by Sona and broadly syndicated loans
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Investec has put the Pinewood 2013-1 European collateralised loan obligation, managed by Pramerica Investment Management, on hold until later in the year.
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Allocations were distributed to BMC Software’s investors on August 9, after a radical change to the debt’s structure and currency split.
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After a surge of transatlantic leveraged loans in July, market participants are adamant that borrowers should keep tapping the US market.
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The UK energy and mining consultancy firm Wood Mackenzie was due to allocate an add-on to its existing debt on Thursday, having relied exclusively on its existing syndicate. The new facilities will be used to pay a dividend to the issuer’s private equity owner, Hellman & Friedman.
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Leveraged Loans
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CVC Capital Partners is preparing a secured and unsecured high yield bond package to finance its takeover of Domestic & General Group, a UK insurance company specialising in appliance breakdown cover.
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Neuberger Berman, the employee-owned US asset manager, has hired Jon Jonsson from JP Morgan Asset Management for its London office.
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Codere, the Spanish gambling company, has decided not to pay the interest on its $300m 2019 bonds, which was due on Thursday.
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Gambling companies have long been frequent visitors to the US high yield market — a wealth of casinos such as the MGM Mirage, Station Casinos and Wynn Las Vegas fall into that category. Now, Europe is increasingly seeing high yield issuers from the gambling industry.