By Jakema Lewis
Investors pulled $501.1 million from high yield bond funds, compared to $1.4 billiom removed the previous week. Meanwhile, loan funds saw their 18th week of pulled money, with investors yanking $741.7 million for the week ended Nov. 25.
December 1, 2015 – Kraton Polymers, a manufacturer of engineered polymers for the adhesive, coating, gels, medical care and other industries, has launched a $1.35 billion term loan B offering in connection to its acquisition of Arizona Chemical Holdings Corp.
December 1, 2015 – Semiconductor manufacturer Microsemi Corp. is meeting with lenders Wednesday on an amended $2.43 billion loans proposal to fund its previously announced takeover of PMC-Sierra.
December 1, 2015 – The provider of neonatal physician services is offering senior notes due 2023 to pay down borrowings under its revolver.
December 1, 2015 – The private golf club owner and operator is offering $400 millon of senior notes due 2023 in a private placement. Citigroup is the lead bookrunner.
November 18, 2015 – Leverage, a joint venture formed by the League of Southeastern Credit Unions and Capital Growth Solutions, launched Monday with the mission to help small credit unions that lack expertise in SBA lending jump into the booming 7(a) market.
November 16, 2015 – CIFC, the largest U.S. CLO manager by number of deals, is raising its own capital to finance risk retention compliance.
November 12, 2015 – While many high yield bond investors have been heading for the doors, BMO GAM senses opportunity and has recently increased the weighting for corporate high yield bonds in its portfolios, Portfolio Manager Jon Adams told LFN.
November 10, 2015 – While market volatility has subsided, participants say it's hard to see a catalyst for a pickup in volume by year's end.
November 5, 2015 – As investors flocked to its new bond and loan offerings, T-Mobile doubled the size of each proposal to $2 billion to build up corporate cash - likely for another round of heavy-duty bidding in next year's FCC wireless spectrum auction.
November 6, 2015 – The regulators' annual Shared National Credits review found nearly 10% of large, syndicated credits demonstrated some form of weakness, most of which were leveraged loans. But renewed concerns about energy loans also cropped up.
October 27, 2015 – A sharp increase in leveraged lending volumes in recent years, especially in sectors such as oil and other commodities, has created the potential for significant future credit problems as asset values fluctuate.
October 22, 2015 – Portfolio managers dont feel any better about the market than they did three months ago, according to a survey compiled by the International Association of Credit Portfolio Managers.