Top Section/Ad
Top Section/Ad
Most recent
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
More articles/Ad
More articles/Ad
More articles
-
The Republic of Macedonia has pulled in a World Bank guaranteed €130m transaction in the country’s first international loan from two commercial banks.
-
Private equity firm Doughty Hanson has acquired oil and gas services firm Asco Group from Phoenix Equity Partners using 100% equity, although bankers said they expected the buyer to refinance its purchase shortly with a club loan.
-
Ma’aden Bauxite and Alumina Company has signed facilities worth $1.99bn, provided by commercial banks and a public fund, to build the second phase of an aluminium project that will help diversify Saudi Arabia’s economy away from oil revenues.
-
Lenders to beleaguered Thomas Cook have agreed to provide a £200m revolving credit facility, maturing on April 30 2013, replacing a £100m short-term loan signed in October. But margins on the loan are up to 300bp higher than the terms agreed on Thomas Cook’s existing £1bn loan in July.
-
Covenant waivers and amend and extend agreements will become more difficult for leveraged companies to obtain amid the liquidity squeeze on bank and CLO lenders, bankers warned this week. Distressed investors picking up debt from bank portfolio sales could add more difficulties, as they are less likely to be amenable to requests for more flexible terms.
-
Corporate borrowers reliant on bank financing for the bulk of their funding needs could be hit as banks deleverage in an effort to meet the European Banking Authority’s additional capital requirements, according to a report from Barclays Capital this week.