Loan Volume Declines Cutting into Lender Fees, Market Share

By Glen Fest

U.S. leveraged loan syndication in the first half of 2015 is down 29.1% from the same period a year ago, according to Thomson Reuters, resulting in overall declines in deal volume and fees for all the top 25 banks ranked in the semi-annual bookrunner tables.

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Investors Pull $4.3B from HY, Loan Funds

– High yield and bank loan mutual funds and exchanged traded funds took a hard hit this week, with investors pulling assets from both asset classes, according to Lipper.

Centene Lines up $2.7B in Financing for Health Net Buy

– Healthcare insurance plan provider Centene Corp., which announced today it was acquiring Health Net Inc. for $6.8 billion, has received $2.7 billion in financing commitments from Wells Fargo for the transaction.

Keurig Obtains $1.8B Revolving Line of Credit

– It replaces an $800 million revolver and a $200 million alternative currency facility that maker if single-serve brewing machines had in place at the end of the first quarter.

Other Shoe Drops as S&P Cuts Graham to Spec-Grade

– Following the media company's spin-off of Cable One, Standard & Poor's has downgraded its ratings for Graham Holdings to 'BB+' from 'BBB.' Moody's Investors Service took similar action last month.

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