Latest news
Latest news
Changing issuance patterns, tight mezzanine spreads and investor demand deliver bumper crop of deals
Deal follows Macquarie's acquisition of Spire, which issued previous Aurium CLOs
Pim van Schie, a portfolio manager at Neuberger, discusses rising investor appetite for CLO mezzanine tranches
More articles
More articles
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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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The Automobile Association has joined a record 12 other issuers in selling a PIK toggle bond in Europe this year. This week's £350m transaction was the largest PIK toggle in sterling this year. -
Capsugel increased its PIK toggle drive-by bond by $50m and priced it at the tight end of guidance on Thursday. The US maker of pill capsules raised $465m of payment-in-kind notes.
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Nuance Group, the Swiss duty free retailer, released price guidance for its €200m debut high yield bond on Thursday and plans to sell the deal on November 1.
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Tullow Oil, the London-listed company that explores for oil in Africa, has tightened price guidance for its $500m debut bond.
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NH Hoteles sold its debut bond on Thursday. It was increased to €250m, had a strong book, priced tight and traded up — all typical of European high yield issues in a bullish October.
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Fresenius, the German healthcare company, started marketing a new €1.2bn loan package on Tuesday to back its acquisition of 43 hospitals from Rhön-Klinikum.
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Cantor Fitzgerald’s Head of Collateralized Debt and Loan Obligation Trading Florian Bita has left the investment banking firm after only five months.
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CQS Investment Management priced its EUR361.55 million ($493.1 million) Grosvenor Place 2013-1 collateralized loan obligation—arranged by Deutsche Bank—on Thursday afternoon, the first European CLO to price in six weeks.
