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
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Host Europe increased the portion of euro denominated loans within its £225m all-senior debt package, which will back the UK website host’s buy-out by private equity firm Cinven.
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Energias de Portugal has taken advantage of a vigorous corporate bond market this week to raise €750m of seven year debt at 5%. -
Polish broadcaster TVN has returned to the market to partly refinance its €593m 2017s, which are callable in November, after a failed attempt to do so in March. The rest of the note will be refinanced with cash. The operator of 10 television channels is planning to print €430m of 2020 notes on Friday.
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Metallum, the Swiss metal recycling and processing firm, allocated its new €295m debt early this week, having closed the transaction a whole month after receiving final commitments from investors.
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AHT Cooling is set to issue €350m of loans to back its private equity buy-out. Ownership of the Austrian refrigeration equipment manufacturer will move from Quadriga Capital to Bridgepoint in a takeover worth €585m.
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Graham Lane has joined Willkie Farr & Gallagher as a partner in its London office, as the New York law firm seeks to expand its European restructuring business.
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Verizon’s acquisition of 45% of its main subsidiary may not go down as the most exciting M&A drama ever, but the world’s third biggest takeover is set to produce its biggest ever bridge loan.
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Private equity firms KKR and Permira sold a €767m stake in ProSiebenSat.1 Media on Tuesday evening, with the trade having difficulty finding coverage after a similar deal in February. The stock traded below issue price on Wednesday morning, but recovered in the afternoon.
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Investors in Nokia's debt and credit default swaps have welcomed the Finnish company's decision to sell its handset business to Microsoft and refocus the business on its recently rebranded Nokia Solutions & Networks business.
