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Despite the allure of lower loan prices, CLO managers should print deals cautiously
Software loan sell-offs and the Iran war have caused US and European loans to price differently
Leveraged loans in stressed sectors like software carry refinancing risk
LBO financing includes $5.75bn term loan to be priced early next week
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Martin McColl, the UK convenience store chain, has refinanced its existing debt with £126.5m of new bank facilities.
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TURKEY & MIDDLE EAST ICD taps conventional, Islamic markets for $2bn refi
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Successful deal signings by Rosneft and VTB Bank have helped push 2013’s Russian syndicated loan volumes to $16.7bn — the highest year to date level since 2008, said Dealogic on Wednesday.
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Heinz has scrapped the $2bn-equivalent European portion of its $12bn jumbo LBO, after strong demand from investors in the US convinced the borrower to do all its borrowing in the cheaper market.
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Sun Hung Kai Properties was set to sign a HK$15.2bn ($1.96bn) five year loan at the end of last week, after finding enough demand to increase the size of the deal from the planned HK$5bn. Bankers say this makes it the biggest local currency deal in Hong Kong since the start of the year, despite the company not having a specific use of proceeds lined up.
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Africa-focused mining firms are finishing the first quarter of 2013 on a borrowing high, after racking up deals totalling $5.27bn either signed or launched into the market this week.