Slew of Loan Repricings Takes a Dent out of Returns

Oscar Wilde wrote that no man is rich enough to buy back his past. As poetic as that may be, if you’re Denny’s, Solutia, Petco, DineEquity or one of the other issuers on a long list of companies repricing their debt at cheaper rates, you actually can...

Will Your Next Loan Be from A PE Firm?

As private equity seeks out ways to enhance its model, launching business units that underwrite corporate debt could be the next endeavor for some, loan market participants say...

Investors See Froth, But No Bubble (Yet)

A slew of loan repricings, along with covenant-lite deals, PIK toggles and dividend deals—the signs of a bubble are everywhere on the high yield bond and leveraged loan markets. But investors don’t see a bubble forming… yet...

“Hot Tub Time Machine” Repricings Burn Investors

Loan investors this week seemed to channel Rodney Dangerfield—they just couldn’t get any respect—as several big-name issuers of 2010 looked to reprice more than $6 billion in loans at lower rates...

European CLOs Constrained by Regulation

A new rule in Europe—Article 122a of the Capital Requirements Directive, which calls for originators, sponsors or original lenders in an arbitrage CLO to retain at least 5% of the vehicle’s equity on their balance sheet—has...

More