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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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Three new directors have been appointed to the board of the Loan Market Association. Charles Griffiths from Bank of Tokyo-Mitsubishi UFJ, Martin Horne from Babson Capital and Graham Rainbow from Alcentra were appointed to the board of directors at the industry body’s annual general meeting on Wednesday.
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Indian Oil Corp has now received proposals for a planned $300m loan, after approaching lenders only a month after closing its last international deal. Bankers are hoping for a mandate next week.
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Power Finance Corp has already got a $10m commitment to its planned three year loan, and has now pushed back the deadline by a week to give more banks time to consider the deal. -
Alliance Boots’ term loan ‘B’, part of Europe’s largest ever LBO financing, edged down in the secondary market on Thursday on the easing of a bout of euphoria that had seen the paper jump five points on the previous day's news of an investment by US pharmacy chain Walgreen.
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Qatar shipping operator Milaha has signed a $110m 10 year facility for its subsidiary Qatar Shipping. Qatar National Bank (QNB) Group will provide the funds.
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Bahrain’s United Gulf Bank (UGB) announced on Wednesday that it has fully repaid its $200m five year loan signed in June 2007. The bank does not plan to replace the loan with another facility, said Masaud Hayat, UGB chairman.
