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Investors Pull Money from Loan Funds for 29th Straight Week

– For the 29th week in a row, investors withdrew more money from bank loan mutual funds and exchange traded funds than they added, according to Lipper. But they resumed purchasing spec-grade bond funds.

Lev Loans, HY Bonds Off to a Slow Start

– Year to date issuance for the high yield market is at its lowest point since 2009; similarly syndicated loan volumes are also off to its slowest start in eight years. Can the LBO pipeline, flush with blockbuster deals, help turn things around for leveraged finance?

Charter NEX Films Flexes on Final Loan Terms

– The first- and second-lien tranches of a $430 million buyout loans proposal from Charter NEX Films has reverse flexed under final terms, according to reports, with lender commitments due end of day Thursday.

Calpine, Platform Price Senior Note Offerings

– Proceeds from both bond issues will be used to fund acquisitions.

Price Talk Emerges for Acadia $500M Loan

– Proceeds from the loan, at Libor plus 400 bps, along with a proposed $300M notes issue will be used to partially fund Acadia's $1.18 billion acquisition of CRC Health Group.

CommScope Gains $3B Debt Commitment for TE Deal

– JPMorgan heads a bookrunner group that is backing $3 billion in loans and notes for CommScope, which is acquiring the network business solutions business of TE Connectivity. A $1.5 billion term loan B offering was launched Thursday by CommScope.

PODS Finalizes Terms of $610M Buyout Package

– A seven-year, $410 million first-lien term loan B was priced at Libor plus 425 bps with a 99.5 cents on the dollar original issue discount, per reports. A $150 million second-lien loan, maturing in 2023, has a final margin of Libor plus 825 bps with a 99-cent OID.

Micron, Calpine, Platform Back in HY Market

– Repeat issuers Micron Technology is driving by for $750 million; Calpine Corp. is looking to raise $500 million; and Platform Specialty hopes to add to its recent $1 billion deal.

NXT Capital Closes $800M Leveraged Loan Fund

– The fund will invest in first- and second-lien loans that NXT's corporate finance group originates.

Five Loans Totaling $2.1B Completed

– Five corporate borrowers with syndicated loan issues totaling $2.1 billion have allocated this week, according to KDP Investment Advisors, including a $600 million buyout loan offer that Presidio Inc. was able to close after pulling out of plans for a companion high-yield bond issue this week.

For Netflix, Red is the New Black

– Netflix will double its debt load this year with a planned $1 billion issue, prompting Moody's to issue a downgrade to its credit profile. But the debt will help Netflix step up the volume of its original content output in 2015, and accelerate its international expansion goals.

Citgo $1.5 Bonds Road Show Set

– Citgo Petroleum is planning a road show Thursday as it prepares to price a $1.5 billion, five-year senior secured notes issue that will help fund capital purchases as well as a dividend for the state-run Venezuelan parent firm Petrσleos de Venezuela. Price talk also emerged Tuesday for a $1 billion companion loan proposal.

Heinz Prices $2B Senior Notes

– H.J. Heinz has issued 10-year senior notes in the high yield bond market. The bonds priced at par.

Price Talk, Ratings Attached $8.5B Dollar Tree Debt

– Dollar Tree was assigned its first-ever, speculative grade ratings Monday as price talk terms emerged for part of the nearly $8.5 billion debt package that will be used to finance its long-sought Family Dollar acquisition.

Platform Issues $500M Tranche of Buyout Loan Offer

– Platform Specialty Products on Monday allocated a downsized $500 million term loan B offer and plans to wrap up an €83 million euro-denominated loan Tuesday, according sources close to the deal.

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Todd Owens


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