Latest news
Latest news
Changing issuance patterns, tight mezzanine spreads and investor demand deliver bumper crop of deals
Deal follows Macquarie's acquisition of Spire, which issued previous Aurium CLOs
Pim van Schie, a portfolio manager at Neuberger, discusses rising investor appetite for CLO mezzanine tranches
More articles
More articles
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Three US high yield bonds have been pulled in the last week after spreads widened from their tightest level since the financial crisis to their widest level in a year over the course of October. -
US CLO debt has held in despite volatile conditions across credit and stock markets, thanks to a steady loan market.
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Apollo-sponsored RegionalCare Hospital Partners is marketing almost $5bn of sub-investment grade debt to support its acquisition of LifePoint Healthcare, which operates a network of non-urban hospitals.
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The credit arm of private equity firm BC Partners has listed a new direct lending business, Mount Logan Capital, with the firm eyeing better returns in private credit compared with more liquid markets.
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Tritax EuroBox has signed a €200m revolving credit facility, its first outing in the debt markets after the continental European arm of the UK’s large logistics warehouse investor was launched over the summer.
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Equipment rental company United Rentals was in the US high yield market with a $1.1bn bond on Wednesday to support its $2.1bn acquisition of peer BlueLine Rental, after pricing a $1bn term loan to support the deal earlier this month.
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Netflix tapped the high yield market again this week to help finance its heavy spending on new content. But the euro and dollar notes were both priced wide of initial levels.
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US CLO managers have slowed the pace of primary issuance in recent weeks, helping to firm up secondary market debt spreads while other credit markets suffered a sell-off.
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Netflix is tapping the high yield market for its second high yield bond of the year following last week’s earnings report and upgrade by S&P Global.
