Latest News

BofA Syndicates QVC's TLB After Yanking It

July 2, 2009 – Just days after pulling the deal off the primary market, Bank of America has syndicated a $500 million term loan B for QVC to a group of investors...

Four Issuers Kick Off July with $1.46B in HY

July 2, 2009 – Four companies started July off by issuing a total of $1.46 billion in high yield bonds Wednesday. And another company plans to price $275 million today...

Crabtree & Evelyn Files For Bankruptcy

July 2, 2009 – Crabtree & Evelyn has filed for bankruptcy, citing debt pressures and the decline in consumer spending as reasons behind its Chapter 11 filing in New York...

• Lenders Syndicate Lear DIP
• Corp. Default Rate Reaches 9.2%
• E*Trade Financial Makes Exchange Offer Progress

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Features

Citi Goes Green with a $250 Million TLB for Terra-Gen

July 1, 2009 – Citigroup is shopping a $250 million term loan B for Terra-Gen Power, a New York renewable energy company focused on geothermal, wind and solar power...

Fool Me Once, Shame on the Covenants

July 1, 2009 – Imagine a lender somewhere rocking out to The Who’s “Won’t Get Fooled Again.” That person is probably thinking back to the covenant-lite era, when borrowers...

Some Secured Liens More Equal Than Others

July 1, 2009 – Spanish-language broadcaster Univision Communications was one of the many companies to successfully issue bonds in June. What distinguishes the New York-based company from its peers is the fact that the intercreditor agreement puts the bondholders at a disadvantage to the company’s secured loan holders...

Not All Buyers Avoid Union Lable

June 30, 2009 – In a stretched economy, it's easy to see the tightrope many unions walk. In its most basic form, a 'successful' union negotiation yields few concessions, and seizes as many benefits and as much remuneration for workers as possible...

No Tears In M&A's Beer

June 30, 2009 – Consumers may be cutting back on their spending, but Joe Six-pack, as his name implies, isn't about to give up his Yuengling lager...

Loan Market to Cool Down as Summer Ends

June 25, 2009 – The leveraged loan market’s mood at the half-year mark is warmer than it was at the end of 2008, but market participants nevertheless expect coolness to set in...

Bonds See Upsurge, But Will It Last?

June 25, 2009 – New junk bonds are pricing again, and that alone makes the first half of 2009 a good six months. The second quarter in particular brought a big wave of new issues. Bankers and portfolio managers welcome the uptick and the adjustment in spreads, but few think that pace can be sustained...

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