Latest news
Latest news
Despite the allure of lower loan prices, CLO managers should print deals cautiously
Triple-A pricing widens by just 8bp from previous deal, in spite of the Iran war
Software loan sell-offs and the Iran war have caused US and European loans to price differently
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FTE Automotive, the German clutch maker, has sold the first European high yield bond to finance an acquisition in the second half of this year.
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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
