Latest news
Latest news
Triple-A pricing widens by just 8bp from previous deal, in spite of the Iran war
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
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UK theme park operator Merlin Entertainments began bookbuilding on its £1bn IPO on Wednesday.
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Double-B rated high yield bonds issued in Europe and the US in the last year could be the place to be for investors, according to Fraser Lundie, co-head and senior portfolio manager at Hermes Credit.
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Moody’s expects fewer companies to become ‘fallen angels’ in 2013 and 2014 than last year, as financial markets improved in the first nine months of 2013 and global economic prospects have begun to pick up.
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Stahl, the coatings company owned by Wendel, the French investment company, will acquire the leather business of Swiss chemical firm Clariant, Wendel announced on Wednesday.
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Companies have issued so many bonds during 2013’s exceptionally clement market conditions that the cupboard of mandates is looking quite bare. But the Indian summer of tight spreads and low rates that has followed the US Federal Reserve’s decision to delay tapering quantitative easing has made the market too good to resist for some borrowers.
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Nocibé, the French perfumery chain, is set to issue €330m of drawn and undrawn debt to back its acquisition by German retailer Douglas Holding.
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The Automobile Association is joining the trend of PIK toggle issuance. The UK roadside assistance group wants to sell £350m of payment in kind toggle notes this week, which would make it the 13th European issuer of a PIK bond this year.
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Tank & Rast, the German motorway services operator owned by Terra Firma, has settled on a debt structure for the highly anticipated refinancing of about €2bn of its outstanding debt.
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Nuance Group has launched the roadshow for its premarketed high yield bond. The debut transaction for the Swiss duty free retailer will be a €200m floating rate issue.