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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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FGA Bank, the German subsidiary of Italian auto lender FGA Capital, has signed a €390m club term loan. The facility, which will be used to refinance a €365m loan signed in July 2010, is guaranteed by FGA Capital.
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Belgian materials technology group Umicore has signed a new €250m revolving credit facility to replace a €280m deal signed in 2006 and maturing this year.
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Hana Bank is putting the finishing touches to a €260m ($368.6m) one year loan, after convincing 13 banks to join a club deal. The Korean lender will use the proceeds to refinance a maturing facility — and could sign as soon as next week.
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Bord Gáis, the Irish utility that was last week downgraded to one notch above junk, has increased the size of a loan arranged with international banks after the deal was heavily oversubscribed in syndication.
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Russian World Studios (RWS), a subsidiary of Russian diversified financial corporation Sistema, has secured a new Rb1.2bn ($43m) deal against its library of premium video content.
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UK travel agency Thomas Cook has extended and improved the terms of its existing bank facilities, reducing the existing interest margin and pushing the maturity date out by a year to May 2014.