The One Place Banks Are Safe from the Volcker Rule

By John Reosti

More banks are turning to the SBA's Small Business Investment Company program to establish private-equity funds that deliver capital to middle-market companies.

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Investor Exodus from Loan Funds Persists

– Loan mutual and exchange traded funds saw net withdrawals for the 11th consecutive week, according to Lipper.

U.S. CLO Issuance Falls Again in September to $4.9B

– That brought volume for the first nine months of the year to $78.6 billion, according to Thomson Reuters LPC. By comparison, at this point last year, issuance was $93.9 billion.

XPO Launches $1.75B Loans Proposal

– Global third-party supply chain services company XPO Logistics has launched a $1.75 billion term loan B proposal to fund its planned acquisition of Con-Way Inc. for $3 billion.

Talk Set for Cowlitz $485M Loans Offer

– The price talk is Libor plus 850 bps for the three-tranche offer, consisting of a $330 million five-year term loan B, an $80 million delayed-draw term loan B and a $75 million super-priority revolver (with a term of 4.75 years). Commitments are due Oct. 16 through Bank of America Merrill Lynch and Key Bank.

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Gary Wolfe

Loan Syndications and High Yield Capital Markets Group

Firm: Wells Fargo Securities

In the news: Wells Fargo Makes Key Changes for Loans, HY Efforts

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