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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Gamenet, an Italian gambling provider, wants to replace all its debt and shareholder loans with a new €200m high yield bond. The company has not even signed a new revolving credit facility because it "generates so much cash," according to a banker close to the deal.
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Source: Dealogic
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Source: Dealogic
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Schaeffler, the German family-owned ball bearing maker, sold what bankers said was the biggest ever payment-in-kind toggle bond on Thursday, proving that credit investors’ risk appetite is surging back, even for a product that is among the riskiest structures in the high yield arsenal. -
UK debt purchaser Marlin Financial made its £150m bond debut on Thursday — the fifth high yield issuer from the sector.
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DNA, the Finnish telecommunications group several private equity firms were circling, has decided not to go ahead with a sale — a blow to the European leveraged finance market.
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Travelex, the UK bureau de change chain and foreign exchange dealer, wants to issue a £350m high yield bond in two tranches, to refinance its £178m of senior PIK loan facilities, signed in 2007.
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Maisons du Monde, the French furniture retailer, has launched a high yield bond to finance its buyout by Bain Capital in June. The senior secured deal had been expected.
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The steady flow of new collateralized loan obligations in Europe continued this week with Ares Management and Intermediate Capital Group each pricing new transactions. One London-based investor said they were two of the strongest CLOs seen since the market’s reopening.
