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
More articles
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Near term maturities for speculative grade rated companies in Europe, Middle East and Africa are surging, according to a report by Moody's. The amount of debt issued by these companies that matures next year, has reached $101bn — a 20% increase from Moody's calculation of 2014 maturities a year ago.
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Marlin Financial hopes to sell £150m of high yield bonds. The UK debt purchaser is the fifth of its kind aiming to access the market.
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UniCredit subsidiary HypoVereinsbank is in the market with a securitization of small-to-medium enterprise loans from its Geldilux collateralized loan obligation program.
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Findus, the fish and frozen food company, sold its £414m debut bond on Friday to refinance all its loans. The deal was the last in an active week for new issuance in the European high yield market.
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Intermediate Capital Group priced its Lloyds Bank-arranged European collateralized loan obligation, the EUR400 million ($520.9 million) St Paul’s CLO II, on Monday morning.
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Expro, the UK oil and gas well services provider, has raised $100m of additional 8.5% 2016 notes. The tap was priced at the tight end of guidance at 104.5 to yield 6.9897%.
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Robert Lepone, BNP Paribas’s head of distressed and leveraged credit trading, Europe, has left the bank. The decision was by mutual agreement, a market source said. Lepone is not thought to be moving immediately to another role elsewhere.
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Collateralized loan obligation issuers in Europe are looking to bank financing to ease capital requirement burdens that could otherwise keep some of them out of the market.
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European leveraged loans are being flexed and facing delays owing to the wealth of issuance in the market as banks reprice deals to get them off their books ahead of August.
