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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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Altice made a firm step towards adding to its European telecoms portfolio on Sunday, when Brazilian telco Oi accepted a raised €7.4bn offer from the French company for the Portuguese assets of Portugal Telecom.
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Cinven has exited from two of its portfolio restaurant companies, Ask and Zizzi, in a £250m secondary buyout deal with Bridgepoint.
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Pelabuhan Indonesia II’s $1bn loan that opened into general syndication in October, has attracted commitments worth $1.298bn from 45 banks.
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Three banks are looking to join a $120m dividend recap loan for diesel engine component maker ASIMCO Technologies. While one has received board approval for the transaction, two have obtained credit approval and are awaiting board approval, said a banker.
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Siemens Audiology Solutions, the hearing aid maker, has launched a €1.06bn bond and cov-lite loan package that will back its buyout by EQT.
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Carlyle Group and Old Mutual Private Equity bought Tiger Automotive, the South African tyre retailer and wholesaler, on Wednesday. It is Carlyle's second African investment this week.