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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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The leveraged finance new issue pipeline has slowed down in Europe. Market participants pointed to weak macroeconomic data, but also the recent alarms about weak covenants.
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Chinese outdoor leisure products developer Bestway Global Holding is tapping the offshore loan market for the first time for an up to $150m borrowing.
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Another poor set of results from Deutsche Bank left analysts wondering if radical reforms announced earlier this year will be enough to stop the bank’s slide.
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The response to a refinancing loan for KKR-owned MMI International, a hard disk drive developer, has disappointed amid concerns around a Chinese consortium’s planned acquisition of the Singapore-based firm. What lies ahead for the borrower? Pan Yue finds out.
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The Bank of England recently warned that it would take a close look at the fast-growing sterling leveraged loan market, but there is both less and more to the story than meets the eye.
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Investors in sub-investment grade markets had little new issuance to look at this week but were still bemoaning a decline in covenant protection this year.