Oct 2, 2015 – Corporate liquidity worsened in September, as energy sector problems continued to escalate last month, according to the latest Liquidity Stress Index report from Moody’s Investors Service.
Oct 2, 2015 – It was a 10th consecutive week of investor net withdrawals from loan mutual and exchange traded funds, as a mass exodus hit high-yield bond funds as well.
Oct 2, 2015 – Quincy Newspapers, a family-owned media company based in Illinois, is seeking a $250 million seven-year term loan B to finance a pending acquisition of the television assets of Granite Broadcasting. The regional media chain is also seeking to take a $30 million first-out revolver due 2020.
Oct 2, 2015 – Affinion Group Holdings’ plan to offer up a distressed exchange of up to $600 million of debt for common stock has prompted ratings agency downgrades by Standard & Poor’s and Moody’s Investors Service that each says is tantamount to a default.
Oct 2, 2015 – Canadian non-GMO specialty food company SunOpta, Inc.’s high yield bond offering is expected to price with a yield of 8% next week, according to KDP Investment Advisors.
Oct 1, 2015 – The seven-year leveraged loan will be combined with borrowings under the company's revolver to finance
Oct 1, 2015 – The communications company will use the proceeds from the securitization to repay borrowings under its $1 billion junk-rated revolving credit facility.
Oct 1, 2015 – Sucampo Pharmaceuticals, a Bethesda, Md.-based pharmaceuticals development and research firm, has launched a $250 million, six-year loan proposal to fund its announced tender offer to acquire the Asian drug company that manufactures its primary product.
Oct 1, 2015 – It led $24.52 billion in deals, representing an 11.3% market share among banks and firms syndicating leveraged loans and high-yield bonds, according to Thomson Reuters. That was a gain of 0.3 percentage points on the year.
Oct 1, 2015 – The Canadian pharmaceutical company will be issuing high yield bonds, alongside multi-currency loans, to help finance its $3.5 billion acquisition of Amdipharm Mercury Limited.
Sep 30, 2015 – Mark Bentley has joined the firm as a senior management director for its power, energy, and renewables investment banking group in Europe. He was most recently with Greenhill & Co. where he advised on the energy and natural resources sectors.
Sep 30, 2015 – Concordia Healthcare has launched a cross-border multi-currency loans proposal totaling a U.S.-dollar equivalent $1.86 billion to help funds its acquisition of Amdipharm Mercury Ltd.
Sep 30, 2015 – The stock photo agency corproate credit rating has been downgraded by Standard & Poor’s following a “less than adequate liquidity assessment". Last month, Moody's Investors Service warned that it was considering similar action.
Loan Syndications and High Yield Capital Markets Group
Firm: Wells Fargo Securities
In the news: Wells Fargo Makes Key Changes for Loans, HY Efforts