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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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Swedish shipping company Stena has closed a covenant-lite refinancing loan, having reduced it by $100m to $650m.
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Diaverum, the Swedish operator of dialysis clinics, has mandated five banks to arrange €708m of senior credit facilities, but has yet to pick a left lead.
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Alliance International Development Corp has wrapped up syndication of its $120m five year financing, with allocations now being determined.
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Banks are making progress in obtaining credit approvals to underwrite online game developer Giant Interactive’s leveraged buyout loan of $850m, which was reduced from the original target of around $1bn.
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China Fishery Group is in talks with a group of five banks for a $650m financing, as it looks to refinance a bridge loan maturing on February 26.
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Shipping company Gaining Enterprise, part of Taiwan’s Evergreen Group, has launched a $200m seven year facility into syndication, raising funds to purchase new container ships.