Latest News

Reddy Ice Amends Loans to Avoid Breach

– Reddy Ice Corp., a victim of the cooler-than-usual summer that brought out fewer customers for ready-to-go bags of ice, has negotiated an amendment on its $275 million in first-lien credit facilities to avoid a third-quarter step-down provision that would have placed it in breach of a leverage covenant.

Barclays Forecasts Rebound in Loan Pricing

– Although leveraged loans have seen outflows for 17 of the past 18 weeks, Barclays says it expects to see a turnaround in loan pricing, thanks to the record-setting creation of collateralized loan obligations.

Investors Put $2.2B into HY Bond Funds

– Junk bond investors put $2.2 billion into high yield bond funds this week, making it the largest weekly inflow for junk bonds this year. Leveraged loan funds continued to see outflows.

Dynegy to Sell $5B in Bonds to Fund Asset Buy

– Dynegy Inc. plans to sell $5 billion in bonds and raise another $950 million in revolver debt to help finance its $6.25 billion purchase of energy assets from Duke Energy and Energy Capital partners (ECP).

HY Trading Volumes Quiet Down

– Junk bond trading volumes on the secondary market remained low this week, falling below the year-to-date average and last week’s average.

Premier Oil Increases Loan Capacity to $2.5B

– UK-based Premier Oil revealed Thursday in an earnings statement that it has increased its debt capacity to US$2.5 billion following a refinancing of existing debt in July.

Family Dollar Rejects DG Takeover Bid

– Citing anti-trust concerns, Family Dollar Stores today rejected an unsolicited $9.7 billion all-cash takeover bid from Dollar General and reaffirmed its commitment to a $9.2 billion merger agreement with Dollar Tree both companies announced in July.

More Rated Issues are Spec-Grade: S&P

– Nearly half of all the world’s rated credit issuers are speculative-grade, with the majority of U.S. and Emerging Market issuers in the junk-rated category, according to Standard & Poor’s.

Chinese Gas Co Yingde Selling USD Bonds

– Yingde Gases Group is selling U.S. dollar denominated bonds in a private, 144A sale and use the proceeds to refinance debt and for capital expenditures.

Caesars Bonds Dominate Top Weekly HY Losers

– Five tranches of bonds issued by Caesars Entertainment are among the biggest losers in weekly secondary trading, according to a weekly report from MarketAxess.

Aristocrat Leisure Launches $1.3B Loan

– Aristocrat Leisure, an Australian game machine manufacturer, has launched a $1.3 billion term loan offer to finance its planned acquisition of U.S.-based Video Gaming Technologies (VGT).

Golden State Pulls $160M Loan Offer

– Golden State Medical Supply has pulled a $160 million loan proposal to seek other financing options, according to reports. Golden State’s is the 17th such deal that has retreated from the loan market this year.

MSX International Completes $255M Loan Package

– According to reports, the final price on a $220 million term loan B and a $35 million revolver for the business process outsourcing firm is Libor plus 500 bps.

SFX Offers Add-On HY Bonds

– SFX Entertainment is offering add-on 9.625% senior secured second-lien notes due 2019. The live entertainment company is selling the notes in a private offering.

Emerging Market Debt Reaches a YTD Record High

– Emerging Markets (EM) Debt Capital Markets (DCM) has reached a year-to-date record high with China taking the lead in new deal flow. Emerging market debt capital issuance reached $836.2 billion year-to-date.

« Previous1234567Next »

LFN People Database

Exclusive data on top players in capital markets

Margaret Patel

Senior Portfolio Manager

Firm: Wells Capital Management

In the news: Why Junk Debt Hasn't Sold Off More

Search the People Database

Data Snapshot