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
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Aenova intends to market its new €160m loan package exclusively to its existing investor base, with the German healthcare group expecting support from its lenders to be sufficient to avoid a general syndication phase.
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UK ticketing company thetrainline.com has issued £190m of loans to finance a dividend recapitalisation for its owner Exponent Private Equity.
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Poland’s TVN completed the refinancing of its 2017 bonds on Wednesday afternoon, pricing a €300m three year non-call seven bond at 11%. The payment-in-kind toggle note was well oversubscribed and offered investors a premium to compensate for a more flexible toggle structure, said bankers on the deal.
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Highland Capital Management has priced its second post-crisis collateralized loan obligation, selling the triple-A rated $388 million tranche at a discounted price to offer investors a coupon of LIBOR plus 50 basis points.
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Renault, the French carmaker, sold a €600m five year bond today that in many ways echoed the €600m 5.3 year issue launched by its rival Peugeot-Citroën on Tuesday.
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Intermediate Capital Group is adding to the European collateralized loan obligation pipeline with St Paul’s CLO III, its second CLO of 2013.
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Intermediate Capital Group is adding to the European collateralized loan obligation pipeline with St Paul’s CLO III, its second CLO of 2013. JP Morgan is arranging the transaction, which comes barely two months after ICG’s last Euro CLO.
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UK online payment company Skrill will present its latest €305m loan package at a bank meeting in London on Thursday. The issuer waited for the end of the summer break to launch the deal, which was not presented to investors in an early-bird phase.
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Card Factory, the UK gift card retailer, will meet investors on Thursday to market a new term loan add-on that will be used to pay a dividend to its private equity owner Charterhouse.