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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If there was to be a summer break, no one told the high yield market. Bankers found themselves heading into August with a boom to contend with this week. S&B Minerals priced a €275m deal, while Cabot completed a £100m issue and Cogetech prepared to price its €165m deal on Friday. Two European firms tapped the US high yield market — Alcatel-Lucent for $500m and Swissport for $390m. -
Securitization experts predict no let-up in this year’s resurgence of European collateralized loan obligations after the summer, but they reckon the market could become dominated by big players. The outlook is bleaker for smaller, thinly-capitalised managers who are struggling to get to grips with the European Banking Authority’s risk retention amendments, writes Hugh Leask.
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Leveraged finance bankers will have little summer break this year now that BMC Software, the US enterprise software provider has launched its $4.5bn-equivalent covenant-lite loan package and $1.38bn high yield bond financing.
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GSO Capital Partners is set to price its second euro CLO of the year, Herbert Park CLO, next week through Deutsche Bank.
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Leveraged loan markets syndicated loans - news in brief, August 2, 2013
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UK educational publisher TSL Education allocated its new £250m debt package on Wednesday (July 31), after deepening the discount to attract more investors.
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The resurgence of European collateralized loan obligations this year is expected to continue following the summer break, but industry pros reckon the market could become dominated by the larger players, as smaller, thinly-capitalized managers struggle to get to grips with the European Banking Authority’s risk retention amendments.
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Greek provider of gaming and transaction processing systems Intralot, which postponed its bond issue in June, has relaunched the deal. The transaction was announced on Thursday morning and was increased by €25m in the afternoon.
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Leveraged finance bankers will have little summer break this year as BMC Software, the US enterprise software provider, has launched its $4.5bn-equivalent covenant-lite loan package and $1.38bn high yield bond financing.
