Latest news
Latest news
The triple-A rated notes' spread widened by 25bp compared to the original deal
Spreads on CLO liabilities stay wide, making resets for deals from multiple vintages unattractive
Fund is designed to invest in the equity in Bain’s CLOs, but can also invest in liabilities
More articles
More articles
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As one of the most active years on record for U.S. collateralized loan obligations comes to a close, market players are grappling with a finalized Volcker rule that raises crucial questions for the sector, a lack of anchor triple-A investors and struggling arbitrage. Sajid Zaidi, executive director at Morgan Stanley—one of the most active CLO arrangers with $9.6 billion priced this year—spoke with SI Managing Editor Graham Bippart about how the bank is dealing with the rules, and what he expects for next year.
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US food products group Darling International allocated $1.8bn of debt late on Wednesday, after increasing its loan to $1.3bn-equivalent. -
Prospective investors in the new $400m high yield bond issue by Global Ship Lease were due to recommit by 10am New York time on Thursday after the container ship lessor revised its covenants yesterday.
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Bartec, the German maker of explosion protection systems, has refinanced debt with an all-bullet capital structure, removing two covenants in the process.
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The amount of credit supplied by collateralized loan obligations to U.S. companies could be reduced by as much as 90% if regulators move ahead with risk retention rules as now written, according to a study from consulting firm Oliver Wyman.
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German healthcare firm GHD GesundHeits has allocated €121m of add-on loan facilities, to be used in part to repay a mezzanine loan ahead of its maturity.
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ZellBios, which makes pharmaceutical ingredients, is raising €125m of drawn and undrawn debt to finance its buyout by Deutsche Private Equity.
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Hofmann Menü, the German maker of frozen meals for business canteens, hospitals and care homes, is being bought by Partners Group with a €170m senior loan.
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While some debt capital markets bankers are beginning to enjoy the Christmas break, thoughts are already turning to next year’s business. Syndicate and coverage bankers have been putting in some late visits to clients, hoping to be in line for the first wave of deals in 2014.
