Latest News

Chapman & Cutler Adds Another Bankruptcy, Restructuring Partner

– Ryan Jackson was formerly with Richards Kibbe & Orbe; he focuses on commercial lending transactions, financial restructurings of distressed companies, and event-driven acquisitions and dispositions.

Investors Pull $4.3B from HY, Loan Funds

– High yield and bank loan mutual funds and exchanged traded funds took a hard hit this week, with investors pulling assets from both asset classes, according to Lipper.

Other Shoe Drops As S&P Cuts Graham to Spec-Grade

– Following the media company's spin-off of Cable One, Standard & Poor's has downgraded its ratings for Graham Holdings to 'BB+' from 'BBB.' Moody's Investors Service took similar action last month.

Hamilton Lane Flexes on Final Terms

– Hamilton Lane Advisors reverse flexed the original issue discount (OID) of a $260 million term loan B that will be used to refinance debt and pay a dividend to shareholders among other plans.

Centene Lines up $2.7B in Financing for Health Net Buy

– Healthcare insurance plan provider Centene Corp., which announced today it was acquiring Health Net Inc. for $6.8 billion, has received $2.7 billion in financing commitments from Wells Fargo for the transaction.

Keurig Obtains $1.8B Revolving Line of Credit

– It replaces an $800 million revolver and a $200 million alternative currency facility that maker if single-serve brewing machines had in place at the end of the first quarter.

DAE Prices $485M HY Bonds

– The 10% senior notes due 2023 priced at 98.65% of par. The proceeds will be used to finance a buyout by Veritas Capital.

Loan Volume Declines Cutting into Lender Fees, Market Share

– U.S. leveraged loan syndication in the first half of 2015 is down 29.1% from the same period a year ago, according to Thomson Reuters, resulting in overall declines in deal volume and fees for all the top 25 banks ranked in the semi-annual bookrunner tables.

Crown Media Proposing $425M Refinancing

– Crown Media, headquartered in Studio City, Calif., is offering a $325 million first-lien senior secured term loan A and a $100 million revolver to repay/replace three existing facilities.

SS&C Technologies Prices $600M High Yield Bonds

– The 5.875% senior notes due 2023 priced at par. The proceeds will be combined with $2.63 billion in loans to fund the company's acquisition of Advent Software.

TI Group Sets Final Terms on $1.33B Buyout Loan

– Following lenders’ meetings in London and New York, TI Group Automotive Systems has set final terms for its cross-border term loan B which upsized to $1.33 billion from $1.23 billion.

TransUnion Earns Post-IPO Upgrade from Moody’s

– Credit reporting agency TransUnion LLC is using proceeds from a proposed $560 million loans offering – along with approximately $721 million from its recent initial public offering – to redeem $1 billion of outstanding unsecured notes, according to ratings agency reports.

Six Flags Closes on $700M Refi Loan

– Six Flags Entertainment Group has priced its $700 million first-lien term loan following a reverse-flex last week. The company intends to use to proceeds to refinance existing debt, fund stock buybacks, and for general corporate purposes.

Olin Inks New Commitments for $5.4B Dow Deal

– Olin Corp. has lined up a reduced $1.85 billion loan commitment agreement as part of its merger with the chlorine products business of Dow Chemical, according to a Monday regulatory filing.

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