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U.S. Supreme Court Takes Second Look At Second Liens

By Jakema Lewis

Justices are being asked to decided whether a loan with a secondary lien on a debtor’s asset can be "stripped down" to the value of the collateral securing it — even if that value is zero.


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Thomson: Leveraged Lending Falls 35% in 1Q

– Leveraged loan issuance fell 35% in the first quarter, to only $126 billion despite a pickup of buyout activity that could not offset the slowdown in refinancing, according to a quarterly syndicated lending report issued Tuesday by Thomson Reuters LPC.

Hexion Brings $315M to HY Mart

– The specialty chemicals provider will a portion of the proceeds to pay or redeem its 8.375% sinking fund debt due 2016.

AES Corp. Returns with Junk Bond Deal

– The company will use the proceeds to fund concurrent tender offers for its 8% senior notes due 2017, 8% senior notes due 2020, and 7.375% senior notes due 2021.

B3’ Negative and Lower Count Hits 2-Year Peak

– In a report compiling the companies rated ‘B3’ with negative outlooks or lower in its ratings, Moody’s said the list of 184 firms is the highest level the quarterly list has seen in the last two years. That was a net addition of 10 companies from the December 2014 list

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