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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Deutsche Bank is arranging GSO Capital Partners’ second European collateralized loan obligation of the year, a deal which will likely be placed following the August holiday period.
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Deutsche Bank is arranging GSO Capital Partners’ second European collateralized loan obligation of the year, which will likely be placed following the August holiday. -
Manutencoop, an Italian facilities management business, wants to sell €450m of high yield bonds in another debut transaction from Italy. It released price guidance for the transaction on Thursday and plans to price the notes today (Friday).
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CDS: week’s biggest movers — Markit CDX North America investment grade index — Markit iTraxx Europe subordinated financials index — Markit iTraxx Europe senior financials index — Markit iTraxx SovX Western Europe index — Markit iTraxx Europe index — Markit iTraxx crossover index
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Greek debt is back in the high yield market, after the recent flurry of peripheral European deal announcements. S&B Industrial Minerals, the Greek miner and ore processor, is looking for €275m of senior secured notes, while five Italian debut issuers were also vying for investors’ attention.
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Picard, the frozen food producer and retailer, sold its €480m floating rate note on Thursday at the tight end of guidance. The notes jumped higher on the break to trade around 100.875 on Thursday afternoon.
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German industrial ceramics maker CeramTec has brought triple-C risk back to low yields. The company, taken over by private equity firm Cinven, sold a highly geared, unsecured €306.7m bond at the tight end of guidance to yield 8.25%.
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Gamenet, the Italian gambling provider, sold its €200m high yield bond in line with price guidance on Thursday.
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Dealogic league tables of total revenue transactions, June 25, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.
