Latest News

Barclays: L+130 is Floor for CLO AAAs

May 18, 2012 – Despite their credit rating, subordination, and track record during the financial crisis and recession, senior CLO tranches "are not treated as riskless by market participants and will continue to trade in synch with other risk asset classes.”

Kaiser Prices $225M in Upsized Deal

May 18, 2012 – The company initially planned to sell $200 million. Mastro's Restaurants drove by with a $102 million offering...

Investors Slow Purchases of HY Funds

May 18, 2012 – In a twist, loan funds proved slightly more popular than their bond counterparts during the week ended May 16...

• Molycorp Price Talk Reaches 9.75%
• Jazz Pharma TL Talked at L+350
• Frontier Raises $500M Driving By

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Featured Articles

Private Equity Firms Writing Smaller Checks

May 17, 2012 – The hunger for high yield is working to the advantage of private equity firms. In some cases, creditors are also allowing them to borrow more of the purchase price. One insider says sponsors have recently begun to negotiate to write smaller checks...

Volatility Torpedoes Three Bond Deals

May 17, 2012 – As much as junk bond investors gripe about the relative lack of new supply and the leverage this gives borrowers to negotiate favorable funding terms, there is apparently a limit to what issuers can get away with...

Signs of Life in European Loans?

May 17, 2012 – Participants say primary deals are increasing in pace, but off a very low threshold...

LBO, M&A Loan Volumes Climbing

May 10, 2012 – It’s early, but institutional loan investors are beginning to see M&A and LBO-related deal prospectuses landing on their desks with increasing frequency...

Inmet Hopes to Mine HY for Copper

May 10, 2012 – Yield-hungry investors may view the high yield bond market as a gold mine, but Inmet Mining is seeking another kind of pay dirt—copper. The Toronto-based metal mining company is selling $1 billion in bonds to finance work on a developing mine...

NXT Capital Plans More CLOs

May 10, 2012 – Collateralized loan obligations are gaining new life as a way for middle market lenders as a form of financing loans on their books...

Arch Coal Mines Loan Market for $1B

May 3, 2012 – The company's earnings have taken a hit from declining production that triggered credit rating downgrades by both Moody’s Investors Service and Standard & Poor’s...

CWT Travels to Europe for HY

May 3, 2012 – Europe may not be the easiest place to raise money these days, but Carlson Wagonlit is on the market with an offering of $850 million in senior secured notes on at least two continents...

Cov-Lite Loans Stage a Comeback

April 26, 2012 – Driven by investor demand, the current spate of covenant-lite loans illustrates the broad array of issuers able to come to market with a cov-lite deal today, though some pay significantly more than others...

Ford Upgrade Bodes Well for Autos

April 26, 2012 – Ford’s Motor Co.’s return to investment grade status is a milestone for the auto industry, even if it has emerged from the credit crisis and recession in much better shape than its peers...

The Buzz on Trade Finance CLOs

April 26, 2012 – Regulations are making bonds backed by letters of credit and other kinds of trade finance more attractive, but recent chatter surrounding the market’s potential appears to be overhyped....

ACCO Taps Bond Market for Complex Buy

April 19, 2012 – A $1.1 billion deal to acquire the consumer and office products unit of MeadWestvaco is structured as a three-part transaction known as a "Reverse Morris Trust," which allows the seller to avoid paying taxes...

Ineos Pays Up for Cov-Lite Loan

April 19, 2012 – The Swiss chemical company wants to refinance bank debt in order to avoid restrictive covenants, but it's going to be costly...

Not Packing: Revolvers in Short Supply

April 19, 2012 – Activity was at its lowest quarterly level in the first quarter in two years: Globally, 991 facilities were completed for a total of $342 billion, according to Dealogic...

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