August 29, 2014 – Las Vegas Sands announced today it has amended and extended the credit facility for its Singapore-based casino, Marina Bay Sands. Terms of the deal were not disclosed.
August 29, 2014 – Issuance of European syndicated corporate leveraged loans stands at record $53.7 billion for the year to date, according to Dealogic.
August 29, 2014 – Capital Automotive LLC plans to raise $400 million in debt to help finance its proposed acquisition by Brookfield Property Partners, according to ratings agency reports.
August 29, 2014 – High yield bond funds saw another week of positive flows, continuing the rebound after the month-long selloff over July and August.
August 29, 2014 – The primary junk bond market, which has resembled a ghost town for the past two weeks, is poised to come back to life in September, with new issues totaling more than $42 billion on tap. Larger deals may hold the most appeal for some buyers.
August 8, 2014 – Retail investors are fleeing high yield bonds funds at a record pace of $7.1 billion this week, forcing fund managers to tap their cash reserves and sell some of their most liquid holdings to fund redemptions, even if they feel that the correction is a technical one.
August 8, 2014 – Constellation Brands fast growth in the beer business is diversifying what has been a traditional wine and spirits operationand also leading the way for plans to reduce $6.8 billion in net debt obligations, which include a $990 million term loan repricing that hit the market last week.
August 4, 2014 – The entrance of new equity investors, including business development corporations and CLO equity funds, willing to contribute the first-loss piece has led to a return of warehouse bridge funding lines that dried up after the financial crisis.
August 4, 2014 – Verso Paper pulled off a debt exchange it needs to complete its $1.4 billion merger with NewPage Holdings after sweetening the terms for subordinated bondholders a second time and lowering the percentage of acceptances required.
July 25, 2014 – The conflagrations in the Middle East and Eastern Europe have certainly put investors on edge. For the last two weeks, investors have been pulling money from junk bonds at the fastest pace in almost a year. High yield bonds were probably due for a small correction after the strong performance of the first half of the year.
July 25, 2014 – The outlook for credit spreads in the coming three months remains slightly optimistic for high-yield investors, despite expectations of growing corporate defaults, according to the latest quarterly member survey from the International Association of Credit Portfolio Managers.
July 18, 2014 – While the Volcker Rule gets blamed for the sudden lull in CLO issuance in January and February, its now getting some credit for helping one aspect of the roaring comeback of collateralized loan obligations: the infusion of new primary investors in AAA tranches.
July 18, 2014 – Zebra Technologies agreed to purchase the enterprise business of Motorola Solutions, which had sales of $2.5 billion in 2013, for $3.45 billion in an all-cash transaction. Motorola's enterprise sales are more than twice those of Zebra.
July 16, 2014 – A record rise in the number of first-time, single B-rated issuers has Standard & Poors concerned that a greater number of companies will be at risk of default in the event of a slowdown in the U.S. economy
July 11, 2014 – Just when you thought that risky corporate borrowers were getting away with everything, investors are demonstrating that have at least a little fight left in them. High yield bonds are in such high demand that investors have been willing to give up all kinds of protection in order to put their money to work. But non-call periods are a line in the sand.