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
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Leveraged loans bankers are divided as to how aggressive European investors should become, according to a EuroWeek Loans poll.
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Edcon, the South African fashion retailer owned by Bain Capital, has released guidance for its €400m 5.5 year high yield bond, expected to be rated Caa2/CCC.
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Scandlines on Monday allocated its new €875m refinancing loan package, after strong investor demand in Europe left the book heavily oversubscribed, even after the terms were changed in the issuer's favour.
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French bottle top maker Global Closure Systems increased its debut high yield bond by €15m on Thursday. The now €350m five year senior secured notes are expected to be priced on Friday.
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First-time bond issuers continued to pour out of Latin America this week but book sizes were down in a reminder that the market for sub-investment grade borrowers, especially, remains selective, said bankers.
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Albéa Beauty hopes to be the next issuer to add a PIK toggle bond to its capital structure, after the flurry of payment-in-kind structures sold this autumn. However, the deal's timetable has slipped.
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Apart from the high yield market’s unusual 15 year issue by Unitymedia, two other companies sold deals on Thursday: Serbia BroadBand and Marcolin.
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Univeg, the Belgian fruit and vegetable distributor, hopes to sell a €265m debut bond on Friday.
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CPA Global, the UK intellectual property service provider, has proposed guidance on pricing and original issue discount for its new $1bn-equivalent transatlantic loan package, after bank meetings in New York and London on November 6.