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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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Degenhard Schroeren, who has been at Société Générale since 2007, has been appointed head of leveraged finance for Germany, Austria and central and eastern Europe at the French bank.
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Nigel Tuck rejoined SEB’s London team on Monday to focus on restructurings of syndicated loan facilities.
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A $200m pre-export finance loan for Ghana’s Cocobod is likely to be launched to limited syndication next week, according to a banker close to the transaction.
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UK directories company Yell Group is to start its debt purchase process on Tuesday, but lenders to the company were unsure that the company would have great success. As part of the amendments to its financing terms completed in December 2011, Yell increased the amount of cash available to spend on purchases of its own debt from £108.4m to £159.5m.
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Polish oil firm PKN Orlen is believed to be paying 150bp over Libor for a $400m loan that it is using to move some oil assets off balance sheet. The firm has opted to monetise just one oil storage cavern (each being worth $400m), having earlier considered doing more with a larger loan.
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Russian refinery construction firm Taneco has pulled in dual export finance loans from Japanese and European banks, including an end of year emerging market outing with Société Générale.