January 27, 2015 – Dollar Tree was assigned its first-ever, speculative grade ratings Monday as price talk terms emerged for part of the nearly $8.5 billion debt package that will be used to finance its long-sought Family Dollar acquisition.
January 27, 2015 – Fourth quarter 2014 ended with more upgrades for U.S. speculative grade companies than downgrades, S&P says.
January 27, 2015 – H.J. Heinz has issued 10-year senior notes in the high yield bond market. The bonds priced at par.
January 27, 2015 – The behavioral care facility operator most recently completed a $235 million term loan add-on to pay off revolver debt, according to regulatory filings from the Nashville, Tenn.-based firm.
January 23, 2015 – Moody's Investors Services top rankings of U.S. CLO managers still includes many familiar names, but the usual suspects lost market share in the fourth quarter of 2014 to some medium-sized managers.
January 15, 2015 – Caesars Entertainment Corp. filed to place its key operating unit into voluntary Chapter 11 bankruptcy Thursday, setting in motion a battle against junior bondholders who have petitioned for their own involuntary restructuring plan in a Delaware federal bankruptcy court.
January 14, 2015 – International Association of Credit Portfolio Managers latest survey results shows that expectations for corporate defaults over the next 12 months have increased. Spreads are expected to remain in tact, however.
January 8, 2015 – Caesars Entertainment is already negotiating with first-lien creditors about taking a haircut in its plan to restructure the mountain of debt it took on in its 2007 buyout. Now its embroiled in a dispute with swaps holders over whether it actually defaulted when it missed December interest payment on nearly $4.5 billion in second-lien secured bonds.
December 19, 2014 – As expected, federal regulators are delaying implementation of the Volcker Rule's prohibition on banks holding collateralized loan obligations, giving institutions an additional two years to comply.
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.