Latest News

Platform Gains $2.35B in Loan Commitments

– The loans will consist of $1.6 billion of secured term facilities and $750 million in bridge loans that will go toward the $3.5 billion purchase of Arysta LifeScience SPC.

Constellation Brands Prices $800M Notes At Low End of Guidance

– After launching the deal with the tranches unsized, the beverage company ended up splitting the deal down the middle: $400 million of notes due November 2019 and another $400 million due November 2024.

IHS Driving By with $500M Senior Notes Due 2022

– Proceeds will be used to repay all of an existing $250 million unsecured term loan and a portion of the $850 million of outstanding borrowings under its new $1.3 billion senior unsecured revolving facility.

Regulators Unveil Final Risk Retention Rules

– The Federal Deposit Insurance Corp. approved a final rule requiring lenders to retain at least a 5% stake in loans they securitize unless they meet the definition of "qualified residential mortgages; there's no such carve-out for corporate loans.

Tesoro Logistics Launches $1.3B Senior Notes Offering

– Tesoro Logistics, a partnership subsidiary of petroleum refiner Tesoro Corp., has launched a $1.3 billion senior notes offering in conjunction with an offering of more than 19 million shares to consummate a $2.5 billion acquisition of a field services subsidiary of QEP Resources Inc.

NOVA CHemical Reopens HY Market

– It was the first offering to price in a week and priced the same day it was launched.

TPC Group Offering $50M Add-On 8.75% Senior Notes

– The add-on offering will bring the total amount of the issue outstanding to $805 million; the specialty chemical company originally issued $655 million in 2012 and subsequently issued $100 million in 2013.

BAML Talks Price on Constellation Brands HY Notes

– The sizing of the two tranches and their maturity dates have yet to be determined; the offering is expected to price later today.

Essar Steel Driving By With $625M in Notes

– Essar Steel Algoma will launch a road show Tuesday for a $625 million bonds package that is part of its $1.03 billion recapitalization plan being administered by a Canadian superior court.

Orbotech, $300M Loan Assigned ‘B1’ by Moody’s

– Orbotech, an Israeli firm that specializes in optical and imaging solutions for electronic components manufacture, was assigned a ‘B1’ corporate rating by Moody’s Investors Service on Monday following its recent completion of a $300 million senior secured term loan financing an acquisition.

'HY-Lite' Bonds Gaining Ground

– Nearly half the high-yield bond issues that hit the market in September had something in common for investors: major exposure. It's all due to a trend toward fewer covenant protections in issued spec-grade notes, reports Moody's.

How BDCs Can Coexist With Bankers

– Serving small-cap and middle-market firms, and providing financing that complements rather than displaces corporate bank structures is how business develop corporations can succeed in meeting the demand for borrowing that large banks don't fulfill, says Raj Vig, managing partner at TCP Capital Corp.

BPZ Energy Pulls $150M Senior Note Offering

– The independent oil and gas exploration and production company cited current market conditions; it has a cash position of roughly $79 million.

NOVA Chemicals Braves Market with $500M Sr Note Offering

– In a statement issued today, NOVA said it will use proceeds to redeem its existing $350 million in aggregate principal amount of 8.625% senior notes due 2019 and for general corporate purposes

Inc. Research To Launch $525M Loans Package

– Inc. Research, an outsourced contract researcher for pharmaceutical and biotechnology companies, is heading to market with a $525 million loans proposal to refinance existing debt, according to ratings agency reports.

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