Latest news
Latest news
Manager has already used its fourth captive equity fund to invest in five CLOs
◆ 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
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Ares Management and Halcyon Asset Management each priced collateralized loan obligations late last week, bringing June’s issuance total to $7.69 billion.
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A buoyant high yield market and lenders' willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody's. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.
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German hydraulic clutch maker FTE Automotive is the first issuer hoping to break the chills in the European high yield market and issue the first bond of the second quarter. The company plans to use the proceeds to finance its takeover by Bain Capital.
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The European high yield market has experienced a first half like no other in 2013, with record issuance and super-tight coupons followed by volatility and a secondary market sell-off. But where will the market go from here?
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The European high yield market is not shut, bankers were confident this week, as the last few days brought some market stabilisation. Two banks plan to start premarketing bonds as early as Monday, after the Markit iTraxx Crossover tightened 56bp since the start of the week.
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Vue Entertainment, the UK cinema chain, could start premarketing its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corp as early as next week.
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Intralot, the Greek gaming machines and systems provider, has postponed plans for a €300m unsecured high yield bond, but could try to access the market again soon, as it still wants to buy back its convertible bond.
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Dealogic league tables of total revenue transactions, June 27, 2013. Including Investment Banking, Debt Capital Markets, Equity Capital Markets, Mergers & Acquisitions and Syndicated Loan revenues.
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Vue Entertainment, the UK cinema chain, could start premarketing for its high yield bond to finance its takeover by Omers Private Equity and Alberta Investment Management Corporation as early as next week.