Latest news
Latest news
◆ Fast money reverses out of SSA bond market ◆ CLO managers face risky ramp startegy ◆ Corporate hybrid bond market runs hot despite volatility
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
More articles
More articles
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FGA Capital, the car finance joint venture between Fiat and Crédit Agricole, will roadshow to European bond investors on Monday to Wednesday next week, after the joint venture agreement was extended.
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European high yield returns have reached 5.2% for the first nine months of this year, up from 4.1% to the end of August, according to Barclays' Pan European High Yield index (excluding financials). Meanwhile, there is a growing pipeline of potential deals.
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The merger of Portugal Telecom and Oi, Brazil’s largest telecoms company, is credit-positive for the Portuguese firm, according to bond market sources.
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Oberthur Technologies, the French smart card maker, has launched a €200m high yield bond issue as part of a loan-and-bond refinancing of its 2011 buyout debt. The bond is expected to be priced concurrently with €440m-equivalent of transatlantic covenant-lite loans next week.
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Jefferies has sold €400m of first and second lien four year high yield bonds for the takeover of a 33% stake in Greek state lottery and football betting operator OPAP. -
Smurfit Kappa has announced that it will call its €500m 7.25% 2017 bond. The Dublin-headquartered paper packaging producer can call the bond from November 15 this year.
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Douglas reprices - Skrill allocates - Card Factory's tight issue - Funds back Campbell Europe - Britax margin out
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An amend and extend of outstanding debt by Worldwide Flight Services, the aviation company owned by private equity firm LBO France, received unanimous consent from the company’s existing group of investors on Tuesday. The deal, which will close in the next few weeks, will extend the maturity and substantially increase the margins on two of the debt’s tranches.
