December 19, 2014 – The revised facility has a term of four years; it will be used for general corporate purposes, which include financing future asset acquisitions.
December 19, 2014 – Data center operator Equinix closed on a $1.5 billion, five-year senior secured credit facility with a syndicate of eleven financial institutions.
December 19, 2014 – Investors pulled money from high yield mutual funds and exchange traded funds for the fourth-straight week amid concerns about the impact of sliding crude oil prices, according to Lipper.
December 18, 2014 – The notes along with borrowing of a new $500 million, six-year senior secured term loan and a $60 million, give-year revolver, will be used to finance the purchase of Multimedia as well as repay some of the existing debt of GCA and Multimedia.
December 12, 2014 – The Securities and Exchange Commission has loosened restrictions that can keep business development companies from investing in the same companies as their affiliates, allowing them to put more money to work and potentially invest in larger companies.
December 8, 2014 – Falling crude prices have taken a toll on the speculative-grade oil and gas firms as investors unload their debt. Now analysts are beginning to considering whenor ifthe lower tide will begin to bear on the credit, operations and liquidity of these issuers. So far, the evidence is mixed.
December 5, 2014 – Octagon Credit Investors took advantage of a dip in loan prices over the summer to quickly print a CLO at the request of one of its own investors, using the proceeds to snap up collateral, largely in the secondary market.
December 4, 2014 – Bank debt is back in vogue. The question is for how long.
November 24, 2014 – Caesars disclosed last week that it discussed plans with creditors to turn one of its biggest units into a real estate investment trust. The plan's disclosure came after two key lien holders reportedly walked away from the table.
November 9, 2014 – Regulators' patience is running thin for banks that continue to overindulge in leveraged loans despite repeated warnings from the agencies over the past two years.
November 19, 2014 – The market for collateralized loan obligations hit an all-time high in 2014 but the onset of a number of regulatory requirements, including the Volcker Rule, mean the good times may not last long.
November 7, 2014 – In the third quarter, the private equity market experienced a spike in the proportion of equity financing in U.S. leveraged buyouts, increasing to 44% from 37% in the second quarter. Instead of citing tighter lending standards (including federal leveraged loan guidance), the Private Equity Growth Capital Council pegged it on the robust number of middle-market dealsone of several positive factors for PE investors as the year winds down.
November 7, 2014 – John Lapham, co-head of leveraged finance at PineBridge Investments, thinks that the ranks of CLO managers could start to thin well before risk retention rules take effect in 2016.
Firm: Octagon Credit Investors