High Yield Bonds

Loans Have 16th Straight Week of Net Withdrawals

Investors took out $428.3 million for the week ending Oct. 29, according to Lipper. That is less than any of the past five weeks, and the lowest amount of net outflows since the week of Sept. 24 when $381.6 million was withdrawn from mutual loan funds and ETFs.

Acadia Obtains $1.42B in Loan Commitments

Behavioral care facility specialist Acadia Healthcare Co. has secured up to $1.42 billion in committed financing with Bank of America Merrill Lynch and Jefferies for its planned $1.18 billion acquisition of CRC Health Group, an operator of mental health and substance abuse facilities.

Barclays, Jefferies to Head TASC-Engility Merger Financing

Barclays and Jefferies will lead $625 million in debt financing efforts that are part of the planned $1.1 billion merger between defense intelligence contractors TASC and Engility Holdings announced this week.

Moody's: End of QE3 Won't Impact HY

While the Federal Reserve is likely to end its quantitative easing program this week, Moody’s Investors Service says investor demand should remain high for the speculative-grade debt that’s been fueled by historically low interest rates.

Evraz Drives by HY Market with $500M Proposal

Engineered steel manufacturer Evraz North America and a Canadian subsidiary have both launched a $500 million senior secured notes offering to repay intercompany loans to their UK-based parent firm.

Optima Specialty Steel Launches $300M Notes Effort

Optima Specialty Steel is seeking to issue $300 million in senior secured notes to redeem existing high-interest notes and to fund its acquisition of Corey Steel, according to reports.

Carrizo Launches $250M in Notes

Carrizo Oil & Gas on Monday launched a $250 million senior unsecured private notes proposal to finance its acquisition of leasehold and production acreage in Texas.

Building Materials Proposing $1.1B Notes Issue

Building Materials Corp. of America (BMCA) is proposing a $1.1 billion issue of 10-year senior unsecured notes in or to refinance a series of existing senior secured and unsecured notes, according to advisor and ratings agency reports.

Caesars Enters Talks With Secured Lenders

Caesars Entertainment announced today that it has entered negotiations with its first-lien bank loan holders for new terms to reduce some of the $20 billion debt throughout the company’s subsidiary operations. This action follows talks that Caesars began a month ago with bondholders of the unsecured debt holdings of its Caesars Entertainment Operating Co. (CEOC).

Investors Pull Money from Loan Funds for 14th Consecutive Week

Loan mutual funds and ETFs saw $945.7 million walk out the door in the week ended Oct. 15, according to Lipper.

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