Latest news
Latest news
Manager adds almost €100m across the CLO's capital structure
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
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Fresenius aims to refinance its bridge facility with high yield bonds in January, according to sources with knowledge of the proceedings.
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Finmeccanica, the Italian aerospace and defence firm, on Tuesday sold its first bond since it was downgraded to high yield by all three agencies. The €700m long seven year bond still mainly attracted investment grade investors, said a banker.
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Astaldi, the Italian construction company, was one of three Italian high yield firms to sell a bond this week. Its €500m seven year notes priced tightly and traded up.
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Snai, the Italian sports betting firm, increased the size of its debut bond issue on Wednesday and priced it tight relative to guidance, but it still traded up in what is a hot market.
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DFC Global, the US-listed payday lender, has postponed its $650m-equivalent high yield bond issue in sterling and Canadian dollars because of “current market conditions,” the company said.
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Alcatel Lucent, the US-French telecoms equipment producer, has tapped its 6.75% 2020 bond, issued three weeks ago, for another $250m, taking the size to $1bn.
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Tank & Rast, the German motorway services business, sold an 8.1 times levered second lien bond inside guidance on Tuesday. And, in line with the bullish market trend, the notes traded over three cash points higher on Thursday.
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Altice is expected to launch a high yield bond next week, said sources close to the deal. The cable and telecoms business wants to finance its acquisitions of Tricom and Orange Dominicana.
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UBS has created an event-driven team to help it win more financing and hedging business from its franchise in European corporate mergers and acquisitions and equity capital markets.