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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Intralot, the Greek provider of gaming and transaction processing systems, has postponed its high yield bond debut. The Athens-listed company wanted to raise €300m in unsecured notes but on Friday decided to delay the issue, due to further deterioration in the market.
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Ares Management joined the new issue collateralized loan obligation pipeline Monday with a new $411.50 million trade, Ares XXVII, which is being brought to market by Goldman Sachs.
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UK sandwich shop chain Pret a Manger is set to issue a new £375m loan to refinance debt and pay a dividend to its owner Bridgepoint.
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HSBC has hired Omar Faruqui to run its UK financial sponsors business, as part of a continuing expansion of its global banking business.
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The steady flow of activity in European collateralized loan obligations during the first of 2013 is likely to ease as mid-year approaches, both as part of a wider market slowdown following last week’s Global ABS conference in Brussels and the sustained uncertainty around risk retention.
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CLO specialists are already thinking of ways they can comply with the European Banking Association’s new risk retention rules, after being thrown an unlikely lifeline by Sharon Bowles, MEP.
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Bain Capital is seeking to sell a high yield bond for its planned takeover of Maisons du Monde. The US private equity firm has entered into exclusive negotiations to buy the French furniture retailer for close to €650m.
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InterXion has timed its high yield bond nicely. The seven year deal for the Dutch data centre provider was priced just before the Federal Open Market Committee meeting — in case the market did not like the outcome, according to a banker close to the deal.
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European high yield suffered another “terrible market” on Thursday, after Federal Reserve chairman Ben Bernanke did not retreat on Wednesday from his previous position on tapering US quantitative easing.