Sep 22, 2014 – GameStop sold $350 million in 5.5% senior notes due 2019 in a deal upsized from $250 million on Sept. 19. It plans to use the proceeds to pay down its $400 million asset-based revolver.
Sep 22, 2014 – Fitch Ratings issued a report Monday predicting the investment performance on leveraged loans and CLO portfolios will remain on “stable footing” heading into 2015.
Sep 22, 2014 – Skillsoft Corp. has downsized the first-lien portion of what is now a $650 million incremental loan offer, after price talk and an issuer discount were both widened on a proposal that is to fund its acquisition of software firm SumTotal Systems.
Sep 22, 2014 – General Motors Financial is on the market with a two-part benchmark bond offering that will likely price today. The offering is expected to be at least $1 billion.
Sep 22, 2014 – Clear Channel Communications, General Cable Corp., Geo Group and Northern Tier Energy are selling a combined $825 million in high yield bonds.
Sep 22, 2014 – FLY Leasing is selling $400 million in a two-part bond offering. Trinity Industries is offering $300 million in split-rated senior notes due 2024.
Sep 22, 2014 – Price talk on a $2 billion loans offering by Micro Focus International has been revised to Libor plus 325 bps, according to sources.
Sep 19, 2014 – Several European CLOs have garnered attention this year as the first breed of self-professed Volcker-compliant issues from Europe, designed to attract U.S. bank investments or meet the regulatory requirements of a U.S.-based parent bank.
Sep 19, 2014 – American Airlines, Simmons Foods, Anixter International and SFX Entertainment came to the junk bond primary market Thursday and priced new notes.
Sep 19, 2014 – Investors took more than $1 billion out of junk bonds for the week. Loan funds also saw an increase in weekly outflows.
Sep 19, 2014 – Price talk has emerged for a $2.25 billion loans package for Zebra Technologies, which is using the proceeds along with a $1.25 billion secured notes proposal to fund an business-unit acquisition from Motorola Solutions.
Sep 19, 2014 – Talk on the borrowings is Libor plus 325 bps, with a 99.5 cents on the dollar original issue discount. The funds will be used for refinancing and issuing a shareholder dividend.
Sep 19, 2014 – The Loan Syndications and Trading Association stated it welcomed Thursday’s passage of a U.S. House bill that would effectively exempt older CLOs from Volcker Rule treatment, but the trade group was “doubtful” there will be any industry gains from the measure