Latest news
Latest news
Manager tightens spread on triple-A rated notes by 23.5bp compared with the original deal
Lower loan prices offer higher equity returns but managers face rally risk once deals are priced
Despite the allure of lower loan prices, CLO managers should print deals cautiously
More articles
More articles
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Leveraged loan bankers are losing faith in the idea that a euro-only covenant-lite facility could be set to hit the market, according to a new poll from EuroWeek.
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Oberthur, the French smart card maker, allocated €467m-equivalent of loans on Wednesday, after overwhelming interest from European investors caused the euro tranche to be increased and its margin tightened.
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Nuance Group, a Swiss duty free travel retailer, is expected to issue a debut high yield bond as early as next week, after UniCredit released pre-deal research.
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Strong demand for crossover-rated Redes Energéticas Nacionais’s bond again underlined corporate high grade investors’ thirst for higher yielding paper. REN’s €400m deal attracted a strong book before trading up on the break.
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Xella, the German building materials maker, has released guidance for its payment-in-kind toggle notes. The €200m five year notes will be priced later today after talk emerged in the 9.25% cash pay area.
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German container shipping company Hapag-Lloyd safely shipped a €150m add-on to its 7.75% 2018 bond, which was first sold three weeks ago. The tap was priced in line with guidance and traded up on the break.
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Oberthur, the French smart card maker, allocated €467m-equivalent of loans on Wednesday, after overwhelming interest from European investors caused the euro tranche to be increased and its margin tightened.
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Rhiag, the European mechanical and auto part distributor, has pulled its senior secured and PIK bond offering, after private equity firm Apax announced the takeover of the business on Wednesday. The agreed buyout will be financed through a different bank group. -
Ewos Group has launched its long awaited LBO financing. The Norwegian supplier of feed and nutrition for farmed fish is looking to sell around €420m of high yield bonds in two tranches, alongside a pre-placed subordinated bond.
