Latest news
Latest news
Lower loan prices offer higher equity returns but managers face rally risk once deals are priced
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
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Oaktree Capital Management has priced its Oaktree Enhanced Income Funding Series III collateralized loan obligation.
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Altice, the European cable and telecoms business, has sold its €250m high yield bond at the tight end of guidance, despite market jitters. The notes traded just above par on Monday.
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InterXion, the Dutch data centre provider, is looking to raise €300m in the high yield bond market to finance a tender offer for its 2017 bond.
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Intralot, the Greek provider of gaming and transaction processing systems, is looking to sell €300m of high yield bonds.
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Stamford, Conn.-based Nebula Capital Management is aiming to become a collateralized loan obligations manager and has tapped a senior hire as part of the effort.
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Alcentra has priced the seventh European collateralised loan obligation — the JP Morgan-arranged Jubilee 2013 X — of the year this week, with Alcentra understood to be taking down a vertical slice of the bonds to comply with the European Banking Authority’s proposed changes to the 5% risk retention rule.
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Cabot Financial, the UK purchaser of defaulted consumer debt, is asking its bondholders for consent to waive their change of control puts.
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Bondholders of Seat Pagine Gialle, the ailing Italian directories group, appointed a representative for the company’s looming restructuring process. The Milan-based lawyer Dario Loiacono will represent the holders of Seat’s €550m and €200m of 10.5% senior secured notes until 2015.
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Unilabs postponed its €685m high yield bond sale on Thursday, because of market volatility. The Geneva-based laboratory business had already made substantial concessions on price and structure on Wednesday.