Latest News

Thomson: Leveraged Lending Falls 35% in 1Q

– Leveraged loan issuance fell 35% in the first quarter, to only $126 billion despite a pickup of buyout activity that could not offset the slowdown in refinancing, according to a quarterly syndicated lending report issued Tuesday by Thomson Reuters LPC.

Mitel Meeting with Lenders on $700M Loan Proposal

– Canadian telecom firm Mitel Networks is meeting with lenders Tuesday to discuss terms of a $700 million term and revolver loan proposal to fund in part its acquisition of Mavenir Systems.

AES Corp. Returns with Junk Bond Deal

– The company will use the proceeds to fund concurrent tender offers for its 8% senior notes due 2017, 8% senior notes due 2020, and 7.375% senior notes due 2021.

B3’ Negative and Lower Count Hits 2-Year Peak

– In a report compiling the companies rated ‘B3’ with negative outlooks or lower in its ratings, Moody’s said the list of 184 firms is the highest level the quarterly list has seen in the last two years. That was a net addition of 10 companies from the December 2014 list

Hexion Brings $315M to HY Mart

– The specialty chemicals provider will a portion of the proceeds to pay or redeem its 8.375% sinking fund debt due 2016.

Radio One Offers $350M to HY Investors

– The company will also enter into a new $350 million senior secured credit facility. Credit Suisse is the sole bookrunner for the senior notes offering.

Sabre Plans $530M Junk Bond Sale

– The proceeds will be used to fund the redemption of $480 million of 8.5% senior secured notes due 2019.

Natel Engineering Seeks $330M M&A Loan

– Natel Engineering has launched a $330 million senior secured term loan offering to help fund its acquisition of Oncore Manufacturing and to refinance existing debt, according to reports and ratings agency assessments.

Ratings Agencies Diverge on Olin's $2.7B Debt Plans

– While Moody's believes Olin's plans to finance its acquisition of Dow Chemical's chlorine products business is a credit positive, S&P placed Olin on negative credit watch in the belief any business line gains are mitigated by the increased debt.

Murray Energy Rolls Out $1.55B Senior Notes

– A $1.55 billion offering has entered the high bond pipeline from Murray Energy Corp.

Fund Flows Surge for HY, Lag for Loans

– Bank loan investment funds had net withdrawals for a fifth consecutive week, while a surge in high-yield exchange traded fund deposits brought a net flow of new money into bond funds for the first time in three weeks.

Regal Reverse Flexes on $966M Term Loan Offer

– Price talk narrowed on a $966 million term loan proposal from Regal Cinemas, which is part of a $1.05 billion refinancing package, according to sources and reports.

Interval Leisure to Sell $300M Junk Bonds

– The lodging company will use proceeds to repay borrowings under its $600 million revolving credit facility.

Over $3B Added to Domestic HY Totals

– Ally Financial, CONSOL Energy, Cliffs Natural Resources, Credit Acceptance, Navient Corp., and OUTFRONT Media all added to U.S. high yield deal totals.

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