Latest news
Latest news
Rating upgrades to CLO tranches by Moody's and Fitch could let managers increase leverage in deals
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
More articles
More articles
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Matt Natcharian, managing director and head of the structured credit team at Babson Capital in Springfield, Mass., spoke to Managing Editor Graham Bippart about the state of the U.S. collateralized loan obligation market after recent volatility and his outlook for the second half of the year.
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Defying the volatility in the high yield market over the past month, Insight Investment has announced the launch of its short-dated high yield bond fund.
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Ares Management and Halcyon Asset Management each priced collateralized loan obligations late last week, bringing June’s issuance total to $7.69 billion.
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A buoyant high yield market and lenders' willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody's. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.
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German hydraulic clutch maker FTE Automotive is the first issuer hoping to break the chills in the European high yield market and issue the first bond of the second quarter. The company plans to use the proceeds to finance its takeover by Bain Capital.
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The European high yield market has experienced a first half like no other in 2013, with record issuance and super-tight coupons followed by volatility and a secondary market sell-off. But where will the market go from here?
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The European high yield market is not shut, bankers were confident this week, as the last few days brought some market stabilisation. Two banks plan to start premarketing bonds as early as Monday, after the Markit iTraxx Crossover tightened 56bp since the start of the week.
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Vue Entertainment, the UK cinema chain, could start premarketing its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corp as early as next week.
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Intralot, the Greek gaming machines and systems provider, has postponed plans for a €300m unsecured high yield bond, but could try to access the market again soon, as it still wants to buy back its convertible bond.