Latest news
Latest news
Pricing on triple-A notes lands 10bp wider than previous deal in the wake of Iran war
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
More articles
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Alcentra has priced the seventh European collateralised loan obligation — the JP Morgan-arranged Jubilee 2013 X — of the year this week, with Alcentra understood to be taking down a vertical slice of the bonds to comply with the European Banking Authority’s proposed changes to the 5% risk retention rule.
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Cabot Financial, the UK purchaser of defaulted consumer debt, is asking its bondholders for consent to waive their change of control puts.
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Bondholders of Seat Pagine Gialle, the ailing Italian directories group, appointed a representative for the company’s looming restructuring process. The Milan-based lawyer Dario Loiacono will represent the holders of Seat’s €550m and €200m of 10.5% senior secured notes until 2015.
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Unilabs postponed its €685m high yield bond sale on Thursday, because of market volatility. The Geneva-based laboratory business had already made substantial concessions on price and structure on Wednesday.
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SMCP, the French high end fashion retailer, waited over last weekend before selling its debut high yield bond on Monday, hoping for better market conditions after the previous Thursday’s volatile trading session.
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Barry Callebaut, the newly speculative grade-rated company, succeeded in pricing its 10 year high yield bond on Thursday, but cut it from $600m to $400m in tough market conditions.
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Cable and telecoms business Altice is braving the high-yield market with a €250m transaction. The announcement of the 10 year unsecured bond came on Wednesday, only a day before Unilabs postponed its bond because of market volatility (see separate story).
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Alcentra has priced the seventh European collateralised loan obligation — the JP Morgan-arranged Jubilee 2013 X — of the year this week, with Alcentra understood to be taking down a vertical slice of the bonds in order to comply with the European Banking Authority’s proposed changes to the 5% risk retention rule.
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Unilabs has postponed its high yield bond today, because of market volatility. The Geneva-based laboratory business had already made concessions on price and structure on the €510m of senior secured bonds and €175m PIK notes yesterday, but banks today decided to put the sale on hold.