Latest news
Latest news
UK regulations take shape, software slide tests CLO managers' mettle and how captive equity is distorting the market
Pricing on triple-A notes may tighten by 21bp as manager avoids refinancing single-Bs
Deal comes only slightly outside mainstream CLOs
More articles
More articles
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The renewed vigour in Europe’s corporate bond market was evident on Tuesday when Continental, a double-B rated issuer whose deals span investment grade and high yield investors, sold a highly successful €750m bond.
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Intermediate Capital Group and GSO Capital Partners will take a 5% vertical slice of their latest CLOs to ensure they do not fall foul of new European risk retention regulations.
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Findus, the fish and frozen food company, has released price guidance for its £410m high yield bond. It plans to sell euro and sterling notes tomorrow, dropping a planned Swedish krona tranche.
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Intermediate Capital Group’s first European collateralized loan obligation in three years was due to price via arranger LLoyds Bank on Friday as SI went to press.
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Unilabs, the Geneva-based laboratories business, succeeded in selling its €685m debut high yield bond on Wednesday and sold it intraday, nearly a month after pulling the deal amid unfavourable markets. -
Expro, the UK oil and gas well services provider, wants to tap its 8.5% 2016 bond, of which about $991m is outstanding.
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Vue Entertainment, the UK cinema chain, has tightened price guidance on its debut high yield bond. Investors were asked to reconfirm their orders by 12.30pm London time today.
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Source: Dealogic
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Volatility across credit markets has caused investors in the first-loss portions of collateralized loan obligations to worry about more than just the risk that loans spreads could tighten, reducing the arbitrage that drives equity returns—they are also increasingly worried that spreads will widen, according to Citigroup researchers.
