Online News

CS and GE Capital Launch Applica Pet Loan

The bank meeting to launch the $325 billion Applica Pet Products credit facility went on Tuesday, despite setbacks with the M&A deal. Credit Suisse and GE Capital Markets are marketing a $300 million first-lien term loan B and a $25 million revolver...

Barclays To Launch Bonds For North American Energy Alliance

Barclays in two weeks will issue $325 million in senior secured notes due 2016 for North American Energy Alliance, a source close to the deal said...

RBC Snags Two More From Citi

RBC Capital Markets has brought on two long-time Citigroup chiefs: Paul Zingarini joins as managing director and head of secondary loan trading and Richard Rothschild joins as a managing director within the firm’s global syndicated finance sales group, the bank said today.

BMO Investments Kicks Off High Yield Fund

BMO Investments yesterday launched the BMO U.S. High Yield Bond Fund. The new fund will invest primarily in securities with a credit rating below BBB and use bottom up quantitative and fundamental analysis...

Ex-Citi Bond Chiefs To Start Hedge Fund

Two former Citigroup bond chiefs plan to join the club of investment bankers turned hedge fund managers...

Banks Launch $650M TLB For CSC Holdings

A bank consortium led by Bank of America today launched a $650 million term loan B for CSC Holdings, a Bethpage, N.Y.-based holding company for cable TV operator Cablevision Systems...

Citi, BofA Shop First Lien For Rite Aid, Bonds Wait In The Wings

Citigroup and Bank of America are marketing a $350 million first-lien term loan for drugstore chain Rite Aid. Price talk is at Libor plus 225, with an OID of 94...

Underwriters Launch Part of Clear Channel's $10B TLB

Underwriters Tuesday launched a $3 billion chunk of a $10.7 billion term loan B for Clear Channel. The deal comes nearly one month after two private equity firms and a consortium of banks settled their dispute...

Goldman's Connolly Shifts To PE

Tom Connolly, head of Goldman Sachs’ U.S. leveraged finance business, is shifting over to the firm’s private equity arm, where he is expected to run a fund investing in debt...

Banks Prep $1B TLB For BE Aerospace

In the third quarter, JPMorgan, Credit Suisse and UBS will launch, no pun intended, a $1.35 billion credit facility for BE Aerospace, a Wellington, Fla.-based manufacturer of components for commercial passenger aircraft and business jets...

Investors Push Back Learning Care

Investors last week pushed back on a Barclays-led $175 million term loan B for child-care services provider Learning Care Group. The term loan was launched last week at Libor plus 450 bps, with an OID of 96 and a 3.5% Libor floor...

Bear's Distressed Debt Team Joins Tudor

A team of distressed debt bankers from Bear Stearns is joining hedge fund Tudor Investment Corp. to lead a new investment management business specializing in credit-related strategies...

Moody's/Fitch Cut Home Builder Ratings

Moody’s and Fitch have downgraded various home builders, with Moody’s cutting the ratings on six companies, and Fitch downgrading five of those, as well as an additional three. Moody’s downgraded Centex, Horton, KB Home, Pulte and Ryland to Ba2 from Ba1, and Lennar to Ba3 from Ba1...

CIT Gets $3B From Goldman Sachs

Commercial finance company CIT Group has agreed to a $3 billion long-term financing commitment from Goldman Sachs. The 20-year securities-based financing facility, which has a 15-year average life, will give CIT the funding flexibility to finance both existing assets and new originations...

Rating Agency DBRS Enters Lev Finance

Toronto-based ratings agency DBRS today unveiled a new leveraged finance rating methodology, which will be used in rating all speculative-grade corporate debt...