Latest news
Latest news
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Manager adds almost €100m across the CLO's capital structure
The triple-A rated notes' spread widened by 25bp compared to the original deal
More articles
More articles
-
Intermediate Capital Group has sold its second collateralized loan obligation this year, St Paul’s CLO III, which is also the largest European CLO of 2013 at EUR556.5 million ($746.81 million).
-
Spreads in senior tranches of new-issue European collateralized loan obligations started the week at recent wides and pushed out further, as issuers struggle to find new buyers of senior CLO paper, echoing a similar problem managers in the U.S. are facing.
-
The IPO of Merlin Entertainments, the UK theme park operator, raised £957m on Friday, pricing at a premium to its US peers and continuing to trade up through the day.
-
Numéricable, the French cable firm, priced its IPO at the top of the range on Friday morning, raising €625m and taking advantage of US investors' continuing interest in the European cable sector.
-
The European high yield market has been pushing to ever more bullish highs in 2013 – more issuance, tight pricing, higher leverage, more aggressive PIK structures, challenging countries like Serbia. But this week the market expanded in a completely new way – to a 15 year maturity, writes Stefanie Linhardt.
-
Leveraged loan bankers and investors have expressed fear that an aggressive repricing of Ista International’s already tight debt margins may lead to an onslaught of opportunistic requests from Europe’s weaker credits, writes Olivier Holmey. -
Santander Asset Management Finance is issuing $1.192bn-equivalent of drawn debt to back its partial acquisition by Warburg Pincus and General Atlantic.
-
Alcatel-Lucent has released price guidance for a $750m high yield bond, as part of the US-French telecoms equipment producer’s plans to transform its capital structure.
-
Renault, the French carmaker, tapped a five year bond this week at the lowest yield it has ever achieved on a fixed rate bond, except in yen. The €300m of notes were priced to yield 2.942% on Tuesday.
