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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The limited pool of buyers for the senior portions European collateralized loan obligations are looking to push spreads on the triple-A bonds off upcoming deals wider, according to CLO officials on the frontline in London. But some officials fear new deals could be tough to execute in the long run without an anchor investor for senior tranches.
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Haymarket Financial added some structural diversity to the European collateralized loan obligation market this week, pricing its multicurrency Hayfin Ruby II SCA CLO which was backed by a mixed pool of broadly syndicated loans as well as loans originated by Haymarket itself.
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Springer Science and Business has sold a stealthy €640m floating rate bond to a handful of investors.
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Minimax Viking has priced the euro tranche of its new transatlantic debt at the tight end of guidance, with allocation due in the afternoon on Thursday. -
Payment-in-kind (PIK) bonds are the flavour of the year. This has unquestionably been the case in the US leveraged finance market, but bankers are also expecting to see more PIKs in Europe. ConvaTec, a UK-based wound and stoma care firm, has become the latest European issuer to sell PIK notes — in big size, with a short execution and in order to pay a large dividend.
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BMC Software was able to increase the size of the high yield bond portion of its LBO financing late on Wednesday in New York, despite having scrapped its €250m euro tranche. The final deal priced $245m larger than initially planned, at $1.625bn.
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Apollo Global Management is getting ready to issue two new collateralized loan obligations totaling $1.78 billion, both via arranger JPMorgan.
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3i Debt Management has priced a EUR310 million ($412.76 million) European collateralized loan obligation, Harvest CLO VII.
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Barclays has reshuffled the management of its EMEA leveraged finance business, moving one of its co-heads to a chairman role and reallocating the syndicate responsibilities of the other co-head, EuroWeek understands.
