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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Fiat joined the spate of deals this week by Europe’s high yield-rated carmakers with a €400m tap of the €850m bond it had issued exactly two months earlier.
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Continental surprised many in Europe’s corporate bond market this week by issuing again, only a week after a €750m deal that had traded badly in the secondary market. -
Renault, the French carmaker, sold a €600m five year bond on Wednesday that in many ways echoed the €600m 5.3 year issue launched by its rival Peugeot-Citroën on Tuesday.
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Peugeot, the French car maker, returned to the euro bond market on Tuesday after a six month absence and priced a successful issue, raising the €600m it wanted at a substantially tighter yield than its last issue.
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Study Group UK, the company that provides courses for overseas students preparing to study at UK and Australian universities, succeeded in pricing its £205m debut bond today at the tight end of guidance, as had been expected yesterday.
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Private equity firm KKR is to clean up its stake in Danish telecoms firm TDC on Thursday night, through a Dkr4.2bn ($750m) block trade run by JP Morgan.
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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. JPMorgan is arranging the transaction, which comes barely two months after ICG’s last Euro CLO.
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German-Danish ferry operator Scandlines is planning to refinance all its drawn debt. The transaction, which will consist of around €1bn of loans, comes after an aborted sale of the company earlier this year.
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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.
